BioXcel Therapeutics (NASDAQ:BTAI) Downgraded by Zacks Research to Hold

Key Points

• BioXcel Therapeutics has been downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, reflecting concerns among analysts regarding its performance.
• The company reported an earnings per share (EPS) of ($2.45), which was below analysts' consensus estimates of ($2.30), indicating ongoing financial challenges.
• Despite recent downgrades, BioXcel has an average rating of "Moderate Buy" with a target price of $39.75, suggesting some analysts still see potential in the stock.

BioXcel Therapeutics (NASDAQ:BTAI - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Wall Street Zen cut shares of BioXcel Therapeutics from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. HC Wainwright upped their target price on shares of BioXcel Therapeutics to $10.00 and gave the company a "buy" rating in a research note on Friday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $39.75.

BioXcel Therapeutics Trading Down 1.2%

NASDAQ:BTAI traded down $0.05 on Tuesday, reaching $4.05. The stock had a trading volume of 2,697,334 shares, compared to its average volume of 22,867,826. The company has a 50-day moving average of $2.97 and a 200 day moving average of $2.26. The stock has a market cap of $64.84 million, a P/E ratio of -0.32 and a beta of 0.18. BioXcel Therapeutics has a 12-month low of $1.17 and a 12-month high of $13.36.

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

Institutional Investors Weigh In On BioXcel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Diversify Wealth Management LLC acquired a new stake in BioXcel Therapeutics during the second quarter worth about $27,000. Squarepoint Ops LLC grew its position in BioXcel Therapeutics by 203.9% in the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company's stock worth $27,000 after purchasing an additional 48,336 shares during the last quarter. Northern Trust Corp grew its position in BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company's stock worth $28,000 after purchasing an additional 33,161 shares during the last quarter. XTX Topco Ltd bought a new position in BioXcel Therapeutics in the 2nd quarter worth about $42,000. Finally, Goldman Sachs Group Inc. bought a new position in BioXcel Therapeutics in the 1st quarter worth about $50,000. Institutional investors and hedge funds own 30.68% of the company's stock.

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.