BioXcel Therapeutics (NASDAQ:BTAI) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of BioXcel Therapeutics (NASDAQ:BTAI) from a strong sell rating to a hold rating in a report published on Monday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. HC Wainwright decreased their price target on shares of BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, BioXcel Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $35.50.

BioXcel Therapeutics Trading Down 10.4%

BTAI stock opened at $1.55 on Monday. The company has a market capitalization of $33.90 million, a P/E ratio of -0.16 and a beta of 0.18. The business has a 50 day simple moving average of $1.70 and a 200-day simple moving average of $2.20. BioXcel Therapeutics has a twelve month low of $1.17 and a twelve month high of $8.08.

Institutional Investors Weigh In On BioXcel Therapeutics

Several large investors have recently modified their holdings of BTAI. Millennium Management LLC purchased a new position in BioXcel Therapeutics in the 3rd quarter valued at $2,632,000. Oaktree Capital Management LP purchased a new position in BioXcel Therapeutics during the 2nd quarter worth $437,000. Jane Street Group LLC acquired a new stake in shares of BioXcel Therapeutics in the 4th quarter worth $204,000. Geode Capital Management LLC lifted its stake in shares of BioXcel Therapeutics by 64.6% in the 4th quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock worth $330,000 after acquiring an additional 80,928 shares during the period. Finally, Man Group plc purchased a new stake in shares of BioXcel Therapeutics in the fourth quarter valued at about $91,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Company Profile

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.