Analysts Set BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Target Price at $11.80

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) has received an average rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $11.80.

A number of brokerages have issued reports on BTAI. Bank of America dropped their target price on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 target price on shares of BioXcel Therapeutics in a report on Thursday, June 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of BioXcel Therapeutics in a report on Friday, May 10th.

Insider Activity

In other news, CEO Vimal Mehta sold 126,014 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $1.63, for a total value of $205,402.82. Following the sale, the chief executive officer now directly owns 7,811,515 shares in the company, valued at $12,732,769.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 128,520 shares of company stock worth $208,611 over the last ninety days. 35.80% of the stock is currently owned by insiders.

Institutional Trading of BioXcel Therapeutics

Hedge funds have recently bought and sold shares of the company. Apollon Wealth Management LLC acquired a new stake in BioXcel Therapeutics during the fourth quarter worth approximately $31,000. Truist Financial Corp acquired a new stake in BioXcel Therapeutics during the fourth quarter worth approximately $32,000. Tower Research Capital LLC TRC boosted its position in BioXcel Therapeutics by 239.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock worth $41,000 after acquiring an additional 9,754 shares during the last quarter. Virtu Financial LLC acquired a new stake in BioXcel Therapeutics during the fourth quarter worth approximately $176,000. Finally, Pennant Investors LP acquired a new stake in BioXcel Therapeutics during the fourth quarter worth approximately $248,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Price Performance

NASDAQ BTAI opened at $1.08 on Wednesday. The stock has a market capitalization of $40.53 million, a P/E ratio of -0.21 and a beta of 0.32. BioXcel Therapeutics has a 52-week low of $1.04 and a 52-week high of $12.40. The firm has a 50-day moving average price of $1.67 and a 200 day moving average price of $2.47.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.19). The company had revenue of $0.58 million for the quarter, compared to analysts’ expectations of $0.42 million. During the same period in the prior year, the company earned ($1.84) earnings per share. On average, equities research analysts expect that BioXcel Therapeutics will post -2.61 earnings per share for the current fiscal year.

BioXcel Therapeutics Company Profile

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.