BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives Consensus Recommendation of “Hold” from Brokerages

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

Several brokerages have recently weighed in on BTAI. Bank of America cut their price objective on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of BioXcel Therapeutics in a report on Monday, March 18th. Canaccord Genuity Group cut their target price on 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, UBS Group reaffirmed a “neutral” rating and issued a $4.00 price objective (down previously from $9.00) on shares of BioXcel Therapeutics in a research note on Wednesday, February 21st.

BioXcel Therapeutics Stock Down 2.1 %

Shares of NASDAQ BTAI opened at $2.82 on Monday. BioXcel Therapeutics has a 52 week low of $1.91 and a 52 week high of $29.56. The stock has a market capitalization of $86.24 million, a price-to-earnings ratio of -0.46 and a beta of 0.42. The firm has a 50-day moving average price of $3.06 and a 200 day moving average price of $3.21. The company has a quick ratio of 2.45, a current ratio of 2.65 and a debt-to-equity ratio of 16.52.

Institutional Trading of BioXcel Therapeutics

A number of large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in shares of BioXcel Therapeutics by 205.2% during the first quarter. Tower Research Capital LLC TRC now owns 1,529 shares of the company’s stock valued at $29,000 after acquiring an additional 1,028 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in shares of BioXcel Therapeutics in the fourth quarter worth approximately $31,000. Truist Financial Corp purchased a new stake in BioXcel Therapeutics in the 4th quarter worth approximately $32,000. Northwestern Mutual Wealth Management Co. grew its holdings in BioXcel Therapeutics by 411.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,740 shares of the company’s stock valued at $37,000 after buying an additional 1,400 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of BioXcel Therapeutics during the 2nd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

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.