BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives Average Rating of “Hold” from Analysts

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has earned a consensus recommendation of “Hold” from the four ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $37.50.

A number of brokerages recently issued reports on BTAI. Zacks Research cut shares of BioXcel Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of BTAI. Millennium Management LLC acquired a new stake in shares of BioXcel Therapeutics in the third quarter valued at $2,632,000. Oaktree Capital Management LP bought a new stake in BioXcel Therapeutics during the 2nd quarter worth about $437,000. Geode Capital Management LLC increased its position in BioXcel Therapeutics by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock valued at $330,000 after acquiring an additional 80,928 shares in the last quarter. Jane Street Group LLC acquired a new stake in BioXcel Therapeutics in the 4th quarter valued at about $204,000. Finally, State Street Corp raised its stake in shares of BioXcel Therapeutics by 19.9% in the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock worth $101,000 after acquiring an additional 10,500 shares during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Price Performance

Shares of NASDAQ:BTAI opened at $1.58 on Monday. The business’s fifty day moving average price is $1.78 and its two-hundred day moving average price is $2.52. BioXcel Therapeutics has a fifty-two week low of $1.17 and a fifty-two week high of $8.08. The stock has a market capitalization of $34.55 million, a price-to-earnings ratio of -0.16 and a beta of 0.22.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.