BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives $42.60 Consensus Target Price from Brokerages

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $42.60.

Several equities research analysts recently weighed in on the company. Rodman & Renshaw started coverage on BioXcel Therapeutics in a research report on Wednesday, March 19th. They set a “buy” rating and a $65.00 price target on the stock. Canaccord Genuity Group lowered their price target on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Bank of America restated an “underperform” rating and issued a $4.00 price target (down previously from $112.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. RODMAN&RENSHAW raised BioXcel Therapeutics to a “strong-buy” rating in a report on Wednesday, March 19th. Finally, HC Wainwright lowered their price target on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, January 30th.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in shares of BioXcel Therapeutics by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock worth $117,000 after purchasing an additional 13,922 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of BioXcel Therapeutics by 7.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock valued at $74,000 after purchasing an additional 13,952 shares during the last quarter. Northern Trust Corp increased its position in BioXcel Therapeutics by 81.4% during the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock valued at $28,000 after acquiring an additional 33,161 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in BioXcel Therapeutics by 203.9% in the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after purchasing an additional 48,336 shares during the last quarter. Institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Price Performance

NASDAQ BTAI opened at $2.24 on Friday. The stock has a market capitalization of $7.18 million, a PE ratio of -0.06 and a beta of 0.89. BioXcel Therapeutics has a 1 year low of $1.72 and a 1 year high of $49.58. The business’s 50-day moving average is $3.39 and its 200 day moving average is $6.58.

BioXcel Therapeutics Company Profile

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.