Brokerages Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Target Price at $16.86

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has earned an average recommendation of “Hold” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.86.

BTAI has been the subject of a number of recent analyst reports. Canaccord Genuity Group cut their price target on shares of BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, March 14th. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of BioXcel Therapeutics in a report on Monday, March 18th. UBS Group reissued a “neutral” rating and issued a $4.00 price target (down from $9.00) on shares of BioXcel Therapeutics in a research note on Wednesday, February 21st. Finally, Bank of America lowered their price objective on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th.

Institutional Investors Weigh In On BioXcel Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in BTAI. Tower Research Capital LLC TRC increased its position in BioXcel Therapeutics by 205.2% during the first quarter. Tower Research Capital LLC TRC now owns 1,529 shares of the company’s stock worth $29,000 after buying an additional 1,028 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of BioXcel Therapeutics by 411.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,740 shares of the company’s stock valued at $37,000 after acquiring an additional 1,400 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of BioXcel Therapeutics in the second quarter valued at about $50,000. Quantbot Technologies LP acquired a new position in shares of BioXcel Therapeutics during the 1st quarter worth $79,000. Finally, Barclays PLC grew its position in BioXcel Therapeutics by 533.3% during the fourth quarter. Barclays PLC now owns 5,136 shares of the company’s stock worth $111,000 after buying an additional 4,325 shares during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Performance

Shares of BTAI opened at $2.75 on Friday. The business’s 50-day moving average is $2.90 and its two-hundred day moving average is $3.19. The company has a market capitalization of $84.10 million, a P/E 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.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.22. The firm had revenue of $0.38 million for the quarter, compared to analyst estimates of $1.17 million. BioXcel Therapeutics had a negative net margin of 12,974.86% and a negative return on equity of 890.63%. Analysts forecast that BioXcel Therapeutics will post -2.46 EPS for the current year.

About BioXcel Therapeutics

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.