BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives $37.50 Average Price Target from Brokerages

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has earned an average recommendation of “Hold” from the four analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a buy recommendation and one has issued a strong 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 $37.50.

A number of research analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Wednesday, January 21st. Zacks Research lowered BioXcel Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 28th.

Hedge Funds Weigh In On BioXcel Therapeutics

Several institutional investors have recently added to or reduced their stakes in BTAI. Goldman Sachs Group Inc. bought a new position in shares of BioXcel Therapeutics in the first quarter valued at $50,000. Geode Capital Management LLC boosted its position in shares of BioXcel Therapeutics by 27.7% in the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after acquiring an additional 6,120 shares during the period. XTX Topco Ltd bought a new stake in BioXcel Therapeutics in the 2nd quarter worth approximately $42,000. Oaktree Capital Management LP bought a new position in shares of BioXcel Therapeutics during the second quarter valued at about $437,000. Finally, Oaktree Fund Advisors LLC purchased a new position in BioXcel Therapeutics during the second quarter valued at $78,000. 30.68% of the stock is owned by institutional investors.

BioXcel Therapeutics Stock Performance

Shares of NASDAQ BTAI opened at $1.62 on Monday. BioXcel Therapeutics has a fifty-two week low of $1.17 and a fifty-two week high of $8.08. The firm has a market capitalization of $35.43 million, a PE ratio of -0.17 and a beta of 0.22. The stock’s 50-day simple moving average is $1.80 and its 200-day simple moving average is $2.52.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($2.18) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($0.64). The company had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.20 million. On average, sell-side analysts forecast that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.