Analysts Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Price Target at $54.78

Posted by MarketBeat News on Mar 19th, 2023

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Rating) have received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $54.78.

A number of research firms have recently issued reports on BTAI. Jefferies Financial Group lowered shares of BioXcel Therapeutics from a “buy” rating to a “hold” rating and increased their price target for the stock from $20.00 to $22.00 in a research report on Friday, March 10th. Mizuho increased their price target on shares of BioXcel Therapeutics from $24.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. HC Wainwright increased their price target on shares of BioXcel Therapeutics from $73.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Finally, The Goldman Sachs Group increased their price target on shares of BioXcel Therapeutics from $16.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th.

BioXcel Therapeutics Stock Down 0.1 %

Shares of BTAI opened at $19.42 on Thursday. BioXcel Therapeutics has a one year low of $8.80 and a one year high of $34.13. The company has a 50-day moving average of $28.88 and a two-hundred day moving average of $19.83. The company has a current ratio of 10.34, a quick ratio of 10.28 and a debt-to-equity ratio of 0.72.

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BioXcel Therapeutics (NASDAQ:BTAI – Get Rating) last announced its earnings results on Thursday, March 9th. The company reported ($1.95) EPS for the quarter, missing the consensus estimate of ($1.49) by ($0.46). The business had revenue of $0.24 million for the quarter, compared to the consensus estimate of $1.08 million. During the same period last year, the firm posted ($0.93) EPS. As a group, equities analysts anticipate that BioXcel Therapeutics will post -5.76 earnings per share for the current year.

Insider Activity at BioXcel Therapeutics

In related news, CFO Richard I. Steinhart sold 2,084 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $19.50, for a total transaction of $40,638.00. Following the transaction, the chief financial officer now owns 1,500 shares of the company’s stock, valued at $29,250. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Krishnan Nandabalan sold 25,889 shares of BioXcel Therapeutics stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $22.34, for a total value of $578,360.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Richard I. Steinhart sold 2,084 shares of BioXcel Therapeutics stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $19.50, for a total transaction of $40,638.00. Following the completion of the transaction, the chief financial officer now directly owns 1,500 shares in the company, valued at approximately $29,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,958 shares of company stock valued at $2,138,393. 37.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of institutional investors have recently modified their holdings of BTAI. Driehaus Capital Management LLC acquired a new stake in shares of BioXcel Therapeutics in the fourth quarter worth $10,867,000. Millennium Management LLC grew its stake in shares of BioXcel Therapeutics by 872.6% in the second quarter. Millennium Management LLC now owns 188,548 shares of the company’s stock worth $2,489,000 after acquiring an additional 169,163 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of BioXcel Therapeutics by 95.5% in the third quarter. Nuveen Asset Management LLC now owns 217,624 shares of the company’s stock worth $2,572,000 after acquiring an additional 106,314 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of BioXcel Therapeutics by 330.5% in the first quarter. Dimensional Fund Advisors LP now owns 125,280 shares of the company’s stock worth $2,620,000 after acquiring an additional 96,180 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of BioXcel Therapeutics by 569.9% in the second quarter. Cubist Systematic Strategies LLC now owns 91,039 shares of the company’s stock worth $1,202,000 after acquiring an additional 77,449 shares during the last quarter. Institutional investors own 42.35% of the company’s stock.

About BioXcel Therapeutics

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BioXcel Therapeutics, Inc is a commercial-stage biopharmaceutical company, which engages in utilizing artificial intelligence approaches to develop medicines in neuroscience and immuno-oncology. The firm offers IGALMI, a proprietary, sublingual film formulation of dexmedetomidine for the acute treatment of agitation associated with schizophrenia or bipolar disorder in adults.