BioXcel Therapeutics (NASDAQ:BTAI) Rating Lowered to “Sell” at Wall Street Zen

BioXcel Therapeutics (NASDAQ:BTAI) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Several other brokerages have also recently issued reports on BTAI. Rodman & Renshaw initiated coverage on shares of BioXcel Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price for the company. HC Wainwright decreased their target price on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Wednesday, January 21st. Finally, Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BioXcel Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $11.00.

BioXcel Therapeutics Stock Performance

Shares of BioXcel Therapeutics stock opened at $1.14 on Friday. The stock has a market capitalization of $30.87 million, a PE ratio of -0.17 and a beta of 0.30. BioXcel Therapeutics has a 52-week low of $1.08 and a 52-week high of $8.08. The company has a 50-day simple moving average of $1.53 and a two-hundred day simple moving average of $1.88.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its earnings results on Friday, March 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.58). The firm had revenue of $0.26 million during the quarter, compared to analysts’ expectations of $0.15 million. As a group, equities research analysts forecast that BioXcel Therapeutics will post -24.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Diversify Wealth Management LLC purchased a new position in shares of BioXcel Therapeutics during the second quarter valued at approximately $27,000. HRT Financial LP purchased a new position in shares of BioXcel Therapeutics during the fourth quarter valued at approximately $28,000. XTX Topco Ltd purchased a new position in shares of BioXcel Therapeutics during the second quarter valued at approximately $42,000. Goldman Sachs Group Inc. purchased a new position in shares of BioXcel Therapeutics during the first quarter valued at approximately $50,000. Finally, Geode Capital Management LLC raised its holdings in shares of BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after purchasing an additional 6,120 shares during the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.