BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has been rated as a "Moderate Buy" by six analysts, with a target price averaging $39.75, highlighting a mixed sentiment among analysts.
• The company reported a loss of ($2.45) earnings per share for the last quarter, which was below the consensus estimate of ($2.30).
• Recent interest from institutional investors includes new positions being established by Oaktree Capital Management and Murchinson Ltd., with hedge funds holding 30.68% of the stock.

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $39.75.

A number of research firms have recently commented on BTAI. Wall Street Zen cut shares of BioXcel Therapeutics from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Zacks Research lowered shares of BioXcel Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, HC Wainwright reiterated a "buy" rating and issued a $10.00 price objective on shares of BioXcel Therapeutics in a report on Monday.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BTAI. Northern Trust Corp raised its holdings in BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company's stock valued at $28,000 after buying an additional 33,161 shares during the last quarter. Squarepoint Ops LLC raised its holdings in BioXcel Therapeutics by 203.9% in the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company's stock valued at $27,000 after buying an additional 48,336 shares during the last quarter. Murchinson Ltd. bought a new position in BioXcel Therapeutics in the 1st quarter valued at approximately $276,000. Goldman Sachs Group Inc. bought a new position in BioXcel Therapeutics in the 1st quarter valued at approximately $50,000. Finally, Geode Capital Management LLC raised its holdings in BioXcel Therapeutics by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company's stock valued at $51,000 after buying an additional 6,120 shares during the last quarter. Institutional investors own 30.68% of the company's stock.

BioXcel Therapeutics Stock Down 3.0%

Shares of BTAI stock traded down $0.09 on Friday, reaching $2.90. The company had a trading volume of 1,311,862 shares, compared to its average volume of 5,102,571. The stock has a market capitalization of $46.43 million, a PE ratio of -0.23 and a beta of 0.20. BioXcel Therapeutics has a one year low of $1.17 and a one year high of $13.28. The business's 50-day moving average is $3.39 and its 200 day moving average is $2.39.

BioXcel Therapeutics (NASDAQ:BTAI - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($2.45) EPS for the quarter, missing analysts' consensus estimates of ($2.30) by ($0.15). The firm had revenue of $0.12 million for the quarter, compared to analysts' expectations of $0.21 million. On average, sell-side analysts forecast that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

BioXcel Therapeutics Company Profile

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.