Brokerages Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Price Target at $35.50

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have received a consensus rating of “Hold” from the four brokerages that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $35.50.

Several equities research analysts recently issued reports on the company. Zacks Research cut BioXcel Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, January 21st. Finally, HC Wainwright lowered their price target on BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday.

Institutional Investors Weigh In On BioXcel Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in shares of BioXcel Therapeutics by 78.5% during the fourth quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock worth $2,936,000 after buying an additional 807,139 shares in the last quarter. Oaktree Capital Management LP acquired a new position in BioXcel Therapeutics during the second quarter worth about $437,000. Geode Capital Management LLC boosted its position in BioXcel Therapeutics by 64.6% during the fourth quarter. Geode Capital Management LLC now owns 206,168 shares of the company’s stock worth $330,000 after acquiring an additional 80,928 shares during the last quarter. Jane Street Group LLC purchased a new stake in BioXcel Therapeutics during the 4th quarter valued at about $204,000. Finally, State Street Corp grew its stake in BioXcel Therapeutics by 19.9% during the 4th quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after acquiring an additional 10,500 shares in the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Down 8.1%

BTAI stock opened at $1.48 on Friday. BioXcel Therapeutics has a 52 week low of $1.17 and a 52 week high of $8.08. The firm has a 50-day simple moving average of $1.70 and a 200-day simple moving average of $2.25. The stock has a market capitalization of $32.37 million, a P/E ratio of -0.15 and a beta of 0.18.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.