BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives $42.60 Average Target Price from Analysts

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $42.60.

Several equities research analysts have issued reports on BTAI shares. RODMAN&RENSHAW upgraded shares of BioXcel Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 19th. Rodman & Renshaw started coverage on BioXcel Therapeutics in a report on Wednesday, March 19th. They set a “buy” rating and a $65.00 target price on the stock. Canaccord Genuity Group reduced their price target on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Bank of America reaffirmed an “underperform” rating and set a $4.00 price target (down previously from $112.00) on shares of BioXcel Therapeutics in a research report on Tuesday, January 7th. Finally, HC Wainwright cut their price objective on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, January 30th.

Hedge Funds Weigh In On BioXcel Therapeutics

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of BioXcel Therapeutics by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock worth $117,000 after acquiring an additional 13,922 shares during the period. Wells Fargo & Company MN lifted its holdings in BioXcel Therapeutics by 7.5% during the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock valued at $74,000 after purchasing an additional 13,952 shares during the last quarter. Northern Trust Corp boosted its position in BioXcel Therapeutics by 81.4% during the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after purchasing an additional 33,161 shares during the period. Finally, Squarepoint Ops LLC increased its holdings in shares of BioXcel Therapeutics by 203.9% in the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock valued at $27,000 after purchasing an additional 48,336 shares during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Performance

NASDAQ BTAI opened at $2.33 on Friday. BioXcel Therapeutics has a 52 week low of $1.72 and a 52 week high of $49.58. The stock’s 50 day moving average price is $3.54 and its two-hundred day moving average price is $6.67. The stock has a market capitalization of $7.47 million, a price-to-earnings ratio of -0.07 and a beta of 0.89.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices.