Shares of BioXcel Therapeutics Inc (NASDAQ:BTAI) have been given an average rating of “Buy” by the six ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $20.40.

A number of analysts have recently commented on BTAI shares. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of BioXcel Therapeutics in a research note on Wednesday, August 1st. Zacks Investment Research raised BioXcel Therapeutics from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Tuesday, August 14th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $21.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, August 10th.

Shares of BTAI traded down $0.23 during midday trading on Friday, reaching $5.62. The stock had a trading volume of 13,185 shares, compared to its average volume of 31,055. BioXcel Therapeutics has a 52 week low of $5.11 and a 52 week high of $14.79.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings data on Wednesday, August 8th. The company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.13. On average, research analysts forecast that BioXcel Therapeutics will post -1.12 EPS for the current year.

Several institutional investors have recently made changes to their positions in BTAI. Creative Planning acquired a new stake in shares of BioXcel Therapeutics during the third quarter worth $102,000. BlackRock Inc. acquired a new stake in shares of BioXcel Therapeutics during the second quarter worth $137,000. Millennium Management LLC acquired a new stake in shares of BioXcel Therapeutics during the first quarter worth $316,000. Point72 Asset Management L.P. raised its position in shares of BioXcel Therapeutics by 10.7% during the second quarter. Point72 Asset Management L.P. now owns 65,809 shares of the company’s stock worth $605,000 after purchasing an additional 6,358 shares during the period. Finally, California Public Employees Retirement System acquired a new stake in shares of BioXcel Therapeutics during the first quarter worth $3,362,000. 23.82% of the stock is currently owned by institutional investors.

About BioXcel Therapeutics

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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Analyst Recommendations for BioXcel Therapeutics (NASDAQ:BTAI)

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