BioXcel Therapeutics (NASDAQ:BTAI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BioXcel Therapeutics (NASDAQ:BTAI) from a sell rating to a hold rating in a research report released on Saturday.

BTAI has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, January 21st. HC Wainwright reduced their price objective on BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Rodman & Renshaw started coverage on BioXcel Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price for the company. Finally, Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.50.

BioXcel Therapeutics Price Performance

Shares of BioXcel Therapeutics stock opened at $1.21 on Friday. The stock has a market capitalization of $26.46 million, a P/E ratio of -0.18 and a beta of 0.18. The business has a 50 day simple moving average of $1.59 and a two-hundred day simple moving average of $1.95. BioXcel Therapeutics has a 12 month low of $1.15 and a 12 month high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings results on Friday, March 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.58). The firm had revenue of $0.26 million during the quarter, compared to analyst estimates of $0.15 million. As a group, research analysts anticipate that BioXcel Therapeutics will post -24.39 EPS for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversify Wealth Management LLC acquired a new position in shares of BioXcel Therapeutics during the second quarter worth about $27,000. HRT Financial LP acquired a new stake in BioXcel Therapeutics in the fourth quarter valued at approximately $28,000. XTX Topco Ltd purchased a new position in BioXcel Therapeutics in the second quarter worth approximately $42,000. Goldman Sachs Group Inc. purchased a new position in BioXcel Therapeutics in the first quarter worth approximately $50,000. Finally, Geode Capital Management LLC grew its holdings in BioXcel Therapeutics by 27.7% during the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after acquiring an additional 6,120 shares in the last quarter. Hedge funds and other institutional investors own 30.68% of the company’s stock.

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.