BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Given Average Recommendation of “Hold” by Brokerages

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have earned an average rating of “Hold” from the seven research firms that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $11.80.

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

BioXcel Therapeutics Price Performance

BTAI stock opened at $1.12 on Wednesday. The company has a fifty day moving average price of $1.82 and a two-hundred day moving average price of $2.54. The stock has a market cap of $42.03 million, a price-to-earnings ratio of -0.22 and a beta of 0.33. BioXcel Therapeutics has a one year low of $1.11 and a one year high of $12.40.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Thursday, May 9th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.19). The firm had revenue of $0.58 million for the quarter, compared to the consensus estimate of $0.42 million. During the same period in the previous year, the firm posted ($1.84) earnings per share. Research analysts anticipate that BioXcel Therapeutics will post -2.61 EPS for the current fiscal year.

Insider Activity at BioXcel Therapeutics

In other BioXcel Therapeutics news, CEO Vimal Mehta sold 126,014 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $1.63, for a total transaction of $205,402.82. Following the completion of the transaction, the chief executive officer now owns 7,811,515 shares of the company’s stock, valued at $12,732,769.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 135,022 shares of company stock valued at $225,656 over the last quarter. 35.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Pennant Investors LP bought a new stake in shares of BioXcel Therapeutics during the fourth quarter worth about $248,000. Virtu Financial LLC bought a new stake in shares of BioXcel Therapeutics during the fourth quarter worth about $176,000. Truist Financial Corp bought a new stake in shares of BioXcel Therapeutics during the fourth quarter worth about $32,000. Apollon Wealth Management LLC bought a new stake in shares of BioXcel Therapeutics during the fourth quarter worth about $31,000. Finally, Vanguard Group Inc. grew its holdings in shares of BioXcel Therapeutics by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock worth $3,100,000 after purchasing an additional 9,912 shares during the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

About BioXcel Therapeutics

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.