BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Given Average 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 an average recommendation of "Moderate Buy" from the six analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $39.75.

BTAI has been the subject of several recent research reports. Zacks Research lowered shares of BioXcel Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. HC Wainwright reaffirmed a "buy" rating and set a $10.00 target price on shares of BioXcel Therapeutics in a report on Thursday, August 28th. Finally, Wall Street Zen cut shares of BioXcel Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 27th.

BioXcel Therapeutics Price Performance

NASDAQ:BTAI opened at $3.39 on Friday. The firm has a market cap of $54.27 million, a price-to-earnings ratio of -0.27 and a beta of 0.20. The company has a 50 day moving average price of $3.30 and a 200-day moving average price of $2.36. BioXcel Therapeutics has a 1-year low of $1.17 and a 1-year high of $13.36.

BioXcel Therapeutics (NASDAQ:BTAI - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate 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 anticipate that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Oaktree Capital Management LP purchased a new position in BioXcel Therapeutics in the 2nd quarter valued at about $437,000. Murchinson Ltd. purchased a new position in BioXcel Therapeutics in the 1st quarter valued at about $276,000. Northern Trust Corp lifted its stake 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 in the last quarter. Squarepoint Ops LLC lifted its stake 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 in the last quarter. Finally, Oaktree Fund Advisors LLC purchased a new position in BioXcel Therapeutics in the 2nd quarter valued at about $78,000. 30.68% of the stock is owned by hedge funds and other institutional investors.

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.

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