BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Given Consensus Rating of “Hold” by Brokerages

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have been assigned an average rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $16.71.

A number of equities analysts have recently issued reports on the stock. UBS Group reiterated a “neutral” rating and issued a $4.00 price target (down previously from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. HC Wainwright reiterated a “buy” rating and issued a $10.00 price target on shares of BioXcel Therapeutics in a report on Tuesday. Canaccord Genuity Group lowered their price objective on shares of BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Finally, Bank of America lowered their price objective on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th.

Institutional Investors Weigh In On BioXcel Therapeutics

Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake 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 worth $324,000 after purchasing an additional 14,901 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of BioXcel Therapeutics by 89.5% during the 3rd 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. Truist Financial Corp acquired a new stake in shares of BioXcel Therapeutics during the 4th quarter worth about $32,000. Apollon Wealth Management LLC acquired a new stake in shares of BioXcel Therapeutics in the fourth quarter worth approximately $31,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of BioXcel Therapeutics by 239.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock worth $41,000 after acquiring an additional 9,754 shares during the last quarter. 30.68% of the stock is owned by institutional investors and hedge funds.

BioXcel Therapeutics Stock Performance

Shares of BioXcel Therapeutics stock opened at $2.61 on Friday. The firm has a fifty day moving average of $2.92 and a two-hundred day moving average of $3.19. The company has a market cap of $96.66 million, a P/E ratio of -0.42 and a beta of 0.40. BioXcel Therapeutics has a one year low of $1.91 and a one year high of $29.56.

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