Brokerages Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Price Target at $37.86

Posted by Defense World Staff on Jul 22nd, 2023

BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, Marketbeat Ratings reports. Three equities 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 target among analysts that have updated their coverage on the stock in the last year is $37.86.

BTAI has been the topic of several research analyst reports. Guggenheim cut shares of BioXcel Therapeutics from a “buy” rating to a “neutral” rating in a research note on Monday, July 17th. HC Wainwright decreased their price target on shares of BioXcel Therapeutics from $66.00 to $60.00 in a research note on Monday, July 3rd. Mizuho reissued a “buy” rating and set a $40.00 price target on shares of BioXcel Therapeutics in a research note on Friday, June 30th. Finally, Bank of America cut their price objective on shares of BioXcel Therapeutics from $43.00 to $23.00 in a report on Friday, June 30th.

Insider Activity at BioXcel Therapeutics

In related news, CEO Vimal Mehta sold 6,500 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $25.79, for a total value of $167,635.00. Following the transaction, the chief executive officer now directly owns 37,294 shares in the company, valued at $961,812.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BioXcel Therapeutics news, CFO Richard I. Steinhart sold 5,000 shares of the stock in a transaction on Monday, May 15th. The shares were sold at an average price of $27.17, for a total value of $135,850.00. Following the sale, the chief financial officer now directly owns 1,500 shares in the company, valued at $40,755. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Vimal Mehta sold 6,500 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $25.79, for a total transaction of $167,635.00. Following the completion of the sale, the chief executive officer now owns 37,294 shares in the company, valued at $961,812.26. The disclosure for this sale can be found here. Insiders have sold 43,285 shares of company stock worth $998,451 over the last ninety days. Company insiders own 35.80% of the company’s stock.

Institutional Investors Weigh In On BioXcel Therapeutics

Hedge funds have recently bought and sold shares of the company. FMR LLC increased its position in shares of BioXcel Therapeutics by 1.7% during the first quarter. FMR LLC now owns 4,276,693 shares of the company’s stock worth $79,803,000 after acquiring an additional 73,257 shares in the last quarter. State Street Corp increased its position in shares of BioXcel Therapeutics by 377.7% during the first quarter. State Street Corp now owns 1,760,683 shares of the company’s stock worth $32,854,000 after acquiring an additional 1,392,114 shares in the last quarter. BlackRock Inc. increased its position in shares of BioXcel Therapeutics by 2.8% during the third quarter. BlackRock Inc. now owns 1,463,372 shares of the company’s stock worth $17,297,000 after acquiring an additional 40,025 shares in the last quarter. Wellington Management Group LLP bought a new stake in shares of BioXcel Therapeutics during the first quarter worth $24,904,000. Finally, Vanguard Group Inc. increased its position in shares of BioXcel Therapeutics by 3.6% during the first quarter. Vanguard Group Inc. now owns 1,059,535 shares of the company’s stock worth $22,155,000 after acquiring an additional 37,204 shares in the last quarter. 42.35% of the stock is currently owned by institutional investors and hedge funds.

BioXcel Therapeutics Price Performance

Shares of BioXcel Therapeutics stock opened at $11.08 on Wednesday. The company has a current ratio of 6.16, a quick ratio of 6.10 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $323.09 million, a price-to-earnings ratio of -1.67 and a beta of 0.85. BioXcel Therapeutics has a 1-year low of $5.88 and a 1-year high of $34.13. The firm’s 50-day moving average price is $17.33 and its two-hundred day moving average price is $22.36.

BioXcel Therapeutics (NASDAQ:BTAI – Get Free Report) last issued its quarterly earnings data 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 business had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.50 million. During the same quarter last year, the company earned ($1.12) earnings per share. On average, equities analysts predict that BioXcel Therapeutics will post -6.87 earnings per share for the current fiscal year.

About BioXcel Therapeutics

(Get Free Report

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.