BioXcel Therapeutics (NASDAQ:BTAI) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen downgraded shares of BioXcel Therapeutics (NASDAQ:BTAI) from a hold rating to a sell rating in a research report sent to investors on Sunday morning.

A number of other analysts have also recently weighed in on BTAI. HC Wainwright decreased their price target on shares of BioXcel Therapeutics from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Rodman & Renshaw started coverage on BioXcel Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.00.

BioXcel Therapeutics Stock Performance

NASDAQ BTAI opened at $1.18 on Friday. The firm has a market capitalization of $31.95 million, a price-to-earnings ratio of -0.18 and a beta of 0.30. BioXcel Therapeutics has a one year low of $1.08 and a one year high of $8.08. The company’s 50 day moving average price is $1.54 and its 200 day moving average price is $1.90.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.58). The business had revenue of $0.26 million for the quarter, compared to analysts’ expectations of $0.15 million. Sell-side analysts forecast that BioXcel Therapeutics will post -24.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BTAI. Goldman Sachs Group Inc. purchased a new stake in BioXcel Therapeutics during the 1st quarter worth approximately $50,000. Geode Capital Management LLC boosted its stake in BioXcel Therapeutics by 27.7% during the 2nd 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 last quarter. XTX Topco Ltd acquired a new position in BioXcel Therapeutics during the 2nd quarter worth $42,000. Diversify Wealth Management LLC acquired a new position in BioXcel Therapeutics during the 2nd quarter worth $27,000. Finally, SLT Holdings LLC bought a new stake in shares of BioXcel Therapeutics in the 3rd quarter worth about $76,000. Institutional investors and hedge funds 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.