BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives Average Rating of "Hold" from Analysts

BioXcel Therapeutics, Inc. (NASDAQ:BTAI - Get Free Report) has been assigned an average recommendation of "Hold" from the seven brokerages that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.86.

Several analysts recently commented on BTAI shares. UBS Group reiterated a "neutral" rating and issued a $4.00 target price (down from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. Bank of America dropped their price target on BioXcel Therapeutics from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, March 13th. HC Wainwright reissued a "buy" rating and issued a $11.00 price target on shares of BioXcel Therapeutics in a research note on Monday, March 18th. Finally, Canaccord Genuity Group dropped their price target on BioXcel Therapeutics from $18.00 to $7.00 and set a "buy" rating on the stock in a research note on Thursday, March 14th.

BioXcel Therapeutics Trading Up 7.8 %

NASDAQ BTAI traded up $0.20 during trading on Friday, hitting $2.75. 619,866 shares of the company's stock were exchanged, compared to its average volume of 1,347,943. The company has a market cap of $84.10 million, a PE ratio of -0.45 and a beta of 0.40. BioXcel Therapeutics has a fifty-two week low of $1.91 and a fifty-two week high of $29.56. The stock's 50 day moving average price is $2.88 and its two-hundred day moving average price is $3.17.

BioXcel Therapeutics (NASDAQ:BTAI - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.22. BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 12,974.86%. The company had revenue of $0.38 million for the quarter, compared to analysts' expectations of $1.17 million. Analysts forecast that BioXcel Therapeutics will post -2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioXcel Therapeutics

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its position in shares of BioXcel Therapeutics by 13.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 128,022 shares of the company's stock valued at $324,000 after purchasing an additional 14,901 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in BioXcel Therapeutics by 89.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company's stock valued at $86,000 after buying an additional 16,032 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at about $64,000. Creative Planning bought a new stake in shares of BioXcel Therapeutics during the 3rd quarter valued at about $54,000. Finally, Point72 Hong Kong Ltd bought a new stake in BioXcel Therapeutics in the 2nd quarter worth approximately $50,000. 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.