Analysts Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Price Target at $11.00

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have earned a consensus recommendation of “Hold” from the four analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $11.00.

BTAI has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Friday, July 17th. Wall Street Zen cut shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th.

BioXcel Therapeutics Stock Down 2.3%

Shares of BioXcel Therapeutics stock opened at $0.84 on Monday. BioXcel Therapeutics has a twelve month low of $0.74 and a twelve month high of $8.08. The business has a 50-day moving average price of $1.07 and a 200-day moving average price of $1.29. The firm has a market cap of $25.96 million, a price-to-earnings ratio of -0.15 and a beta of 0.31.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.53) by ($0.01). The company had revenue of $0.21 million during the quarter, compared to the consensus estimate of $0.38 million. On average, equities analysts expect that BioXcel Therapeutics will post -2.07 EPS for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC raised its position in shares of BioXcel Therapeutics by 78.5% during the 4th quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock valued at $2,936,000 after buying an additional 807,139 shares in the last quarter. Geode Capital Management LLC grew its position in BioXcel Therapeutics by 64.6% in the fourth quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock worth $330,000 after acquiring an additional 80,928 shares in the last quarter. Jane Street Group LLC purchased a new position in BioXcel Therapeutics in the fourth quarter worth about $204,000. State Street Corp increased its stake in BioXcel Therapeutics by 19.9% during 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. Finally, Man Group plc bought a new stake in BioXcel Therapeutics during the fourth quarter worth approximately $91,000. 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.