BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives $50.29 Consensus PT from Brokerages

Posted by on May 30th, 2023

BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Rating) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $50.29.

A number of research firms recently issued reports on BTAI. Jefferies Financial Group downgraded BioXcel Therapeutics from a “buy” rating to a “hold” rating and raised their price target for the stock from $20.00 to $22.00 in a research note on Friday, March 10th. HC Wainwright dropped their price target on BioXcel Therapeutics from $79.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, March 21st. Guggenheim dropped their price target on BioXcel Therapeutics from $50.00 to $46.00 in a research note on Tuesday, May 9th. Finally, Mizuho raised their price target on BioXcel Therapeutics from $38.00 to $40.00 in a research note on Wednesday, May 10th.

Insider Buying and Selling at BioXcel Therapeutics

In other BioXcel Therapeutics news, Director Krishnan Nandabalan sold 60,000 shares of BioXcel Therapeutics stock in a transaction that occurred on Thursday, April 6th. The stock was sold at an average price of $17.32, for a total value of $1,039,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Javier Rodriguez sold 1,785 shares of BioXcel Therapeutics stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $27.32, for a total value of $48,766.20. Following the sale, the insider now directly owns 4,350 shares in the company, valued at $118,842. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Krishnan Nandabalan sold 60,000 shares of BioXcel Therapeutics stock in a transaction that occurred on Thursday, April 6th. The shares were sold at an average price of $17.32, for a total value of $1,039,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,854 shares of company stock worth $2,083,524. 35.80% of the stock is currently owned by insiders.

Institutional Trading of BioXcel Therapeutics

A number of institutional investors have recently modified their holdings of the business. Tocqueville Asset Management L.P. raised its holdings in BioXcel Therapeutics by 37.5% during the fourth quarter. Tocqueville Asset Management L.P. now owns 39,400 shares of the company’s stock worth $846,000 after purchasing an additional 10,750 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in BioXcel Therapeutics by 14.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 39,185 shares of the company’s stock worth $842,000 after purchasing an additional 4,954 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new position in shares of BioXcel Therapeutics in the first quarter worth $323,000. Driehaus Capital Management LLC acquired a new position in shares of BioXcel Therapeutics in the fourth quarter worth $10,867,000. Finally, Sectoral Asset Management Inc. acquired a new position in shares of BioXcel Therapeutics in the fourth quarter worth $1,314,000. 42.35% of the stock is currently owned by hedge funds and other institutional investors.

BioXcel Therapeutics Price Performance

Shares of NASDAQ BTAI opened at $18.87 on Tuesday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 6.10 and a current ratio of 6.16. BioXcel Therapeutics has a fifty-two week low of $8.80 and a fifty-two week high of $34.13. The firm has a market capitalization of $550.25 million, a PE ratio of -2.85 and a beta of 1.12. The stock’s 50-day simple moving average is $21.42 and its 200-day simple moving average is $23.21.

BioXcel Therapeutics (NASDAQ:BTAI – Get Rating) last issued its earnings results on Monday, May 8th. The company reported ($1.84) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.28). The firm had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.50 million. During the same quarter in the previous year, the business earned ($1.12) earnings per share. As a group, equities research analysts forecast that BioXcel Therapeutics will post -6.87 EPS for the current fiscal year.

BioXcel Therapeutics Company Profile

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BioXcel Therapeutics, Inc is a biopharmaceutical company, which engages in developing artificial intelligence approaches to develop medicines in neuroscience and immuno-oncology. It also focuses on utilizing cutting-edge technology and research to develop therapeutics solutions. The company was founded by Vimal D.

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