BioXcel Therapeutics Inc (BTAI) Given Average Rating of “Buy” by Brokerages

BioXcel Therapeutics Inc (NASDAQ:BTAI) has earned a consensus rating of “Buy” from the six research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $20.40.

Several research firms have recently weighed in on BTAI. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of BioXcel Therapeutics in a research report on Friday, January 4th. Zacks Investment Research downgraded BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, December 27th.

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Shares of NASDAQ:BTAI traded down $0.14 on Friday, hitting $7.77. 48,203 shares of the company’s stock were exchanged, compared to its average volume of 124,865. BioXcel Therapeutics has a 12 month low of $2.41 and a 12 month high of $14.79.

BioXcel Therapeutics (NASDAQ:BTAI) last released its earnings results on Thursday, March 7th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.13). On average, sell-side analysts anticipate that BioXcel Therapeutics will post -1.2 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Artemis Investment Management LLP raised its holdings in shares of BioXcel Therapeutics by 1.3% in the third quarter. Artemis Investment Management LLP now owns 1,254,853 shares of the company’s stock valued at $9,700,000 after acquiring an additional 16,358 shares in the last quarter. Creative Planning bought a new stake in shares of BioXcel Therapeutics in the third quarter valued at about $102,000. Finally, BlackRock Inc. bought a new stake in shares of BioXcel Therapeutics in the second quarter valued at about $137,000. Hedge funds and other institutional investors own 20.12% of the company’s stock.

BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.

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