BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $42.60.

A number of research analysts recently weighed in on the company. RODMAN&RENSHAW raised BioXcel Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 19th. Bank of America reiterated an “underperform” rating and set a $4.00 price objective (down from $112.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. HC Wainwright decreased their price objective on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Canaccord Genuity Group cut their target price on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Rodman & Renshaw began coverage on BioXcel Therapeutics in a research report on Wednesday, March 19th. They issued a “buy” rating and a $65.00 price objective on the stock.

Institutional Investors Weigh In On BioXcel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its stake in BioXcel Therapeutics by 203.9% in the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock valued at $27,000 after acquiring an additional 48,336 shares during the last quarter. Northern Trust Corp raised its stake in shares of BioXcel Therapeutics by 81.4% during the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after acquiring an additional 33,161 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of BioXcel Therapeutics by 7.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after acquiring an additional 13,952 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of BioXcel Therapeutics by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock valued at $117,000 after purchasing an additional 13,922 shares in the last quarter. 30.68% of the stock is owned by hedge funds and other institutional investors.

BioXcel Therapeutics Stock Performance

Shares of NASDAQ BTAI opened at $2.24 on Friday. The firm has a 50 day moving average price of $3.39 and a two-hundred day moving average price of $6.58. The stock has a market cap of $7.18 million, a P/E ratio of -0.06 and a beta of 0.89. BioXcel Therapeutics has a 52-week low of $1.72 and a 52-week high of $49.58.

About BioXcel Therapeutics

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.