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

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $16.71.

Several equities research analysts have issued reports on BTAI shares. UBS Group reissued a “neutral” rating and issued a $4.00 price objective (down from $9.00) on shares of BioXcel Therapeutics in a research report on Wednesday, February 21st. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 price target on shares of BioXcel Therapeutics in a research report on Tuesday. Bank of America lowered their price target 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. Finally, Canaccord Genuity Group lowered their price target on shares of BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, March 14th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in BioXcel Therapeutics by 239.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock valued at $41,000 after purchasing an additional 9,754 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in shares of BioXcel Therapeutics during the fourth quarter worth $31,000. Truist Financial Corp purchased a new position in shares of BioXcel Therapeutics during the fourth quarter worth $32,000. Bank of New York Mellon Corp raised its holdings in shares of BioXcel Therapeutics by 13.2% during the third quarter. Bank of New York Mellon Corp now owns 128,022 shares of the company’s stock worth $324,000 after purchasing an additional 14,901 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in shares of BioXcel Therapeutics by 89.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company’s stock worth $86,000 after purchasing an additional 16,032 shares during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Performance

Shares of NASDAQ BTAI opened at $2.61 on Friday. The company has a market cap of $96.66 million, a P/E ratio of -0.42 and a beta of 0.40. The firm’s fifty day moving average is $2.92 and its two-hundred day moving average is $3.19. BioXcel Therapeutics has a 52-week low of $1.91 and a 52-week high of $29.56.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.22. BioXcel Therapeutics had a negative net margin of 12,974.86% and a negative return on equity of 890.63%. The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $1.17 million. As a group, analysts forecast that BioXcel Therapeutics will post -2.39 EPS for the current fiscal 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.