BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives Average Rating of “Buy” from Analysts

BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Rating) has earned a consensus recommendation of “Buy” from the seven analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $65.00.

Several research analysts have recently issued reports on BTAI shares. Bank of America raised their price objective on BioXcel Therapeutics from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, April 6th. Truist Financial reduced their price target on BioXcel Therapeutics from $125.00 to $71.00 in a research report on Tuesday, May 10th. Canaccord Genuity Group reduced their price target on BioXcel Therapeutics from $84.00 to $75.00 in a research report on Friday, May 13th. Finally, HC Wainwright reduced their price target on BioXcel Therapeutics from $134.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, May 23rd.

Institutional investors and hedge funds have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in BioXcel Therapeutics in the first quarter valued at approximately $79,000. Point72 Hong Kong Ltd acquired a new stake in BioXcel Therapeutics in the third quarter valued at approximately $109,000. Ensign Peak Advisors Inc acquired a new stake in BioXcel Therapeutics in the fourth quarter valued at approximately $110,000. Metropolitan Life Insurance Co NY grew its holdings in BioXcel Therapeutics by 22.9% in the third quarter. Metropolitan Life Insurance Co NY now owns 4,882 shares of the company’s stock valued at $148,000 after purchasing an additional 909 shares during the period. Finally, Virtus ETF Advisers LLC grew its holdings in BioXcel Therapeutics by 47.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 8,164 shares of the company’s stock valued at $166,000 after purchasing an additional 2,615 shares during the period. 49.77% of the stock is currently owned by institutional investors.

Shares of NASDAQ:BTAI opened at $10.33 on Tuesday. BioXcel Therapeutics has a 52-week low of $8.80 and a 52-week high of $38.57. The stock has a market cap of $289.14 million, a price-to-earnings ratio of -2.51 and a beta of 1.32. The business has a 50-day moving average price of $12.45 and a 200-day moving average price of $16.67.

BioXcel Therapeutics (NASDAQ:BTAI – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported ($1.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.21) by $0.09. During the same period in the previous year, the firm earned ($1.08) earnings per share. Research analysts expect that BioXcel Therapeutics will post -4.67 EPS for the current fiscal year.

BioXcel Therapeutics Company Profile (Get Rating)

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of adrenergic receptor agonist dexmedetomidine for the treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immune activator for the treatment of prostate and pancreatic cancers, and solid tumors.

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