BioXcel Therapeutics (NASDAQ:BTAI) Upgraded by Wall Street Zen to Hold Rating
by Sarita Garza · The Markets DailyWall Street Zen upgraded shares of BioXcel Therapeutics (NASDAQ:BTAI – Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday.
Several other equities research analysts have also recently weighed in on the company. Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Wednesday, January 21st. HC Wainwright reduced their price objective on shares of BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Finally, Rodman & Renshaw initiated coverage on shares of BioXcel Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.50.
Read Our Latest Analysis on BTAI
BioXcel Therapeutics Price Performance
BioXcel Therapeutics stock opened at $1.26 on Friday. The stock has a market cap of $27.56 million, a PE ratio of -0.19 and a beta of 0.18. The stock’s fifty day moving average is $1.60 and its two-hundred day moving average is $1.97. BioXcel Therapeutics has a 1-year low of $1.17 and a 1-year high of $8.08.
BioXcel Therapeutics (NASDAQ:BTAI – Get Free Report) last released its quarterly earnings data on Friday, March 27th. The company reported ($0.58) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.58). The business had revenue of $0.26 million for the quarter, compared to analyst estimates of $0.15 million. On average, research analysts expect that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in BioXcel Therapeutics by 78.5% in the fourth quarter. Millennium Management LLC now owns 1,835,192 shares of the company’s stock valued at $2,936,000 after buying an additional 807,139 shares during the last quarter. Oaktree Capital Management LP purchased a new position in shares of BioXcel Therapeutics during the second quarter worth approximately $437,000. Geode Capital Management LLC grew its position in shares of 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 acquired a new position in shares of BioXcel Therapeutics in the 4th quarter valued at $204,000. Finally, State Street Corp increased its holdings in shares of BioXcel Therapeutics by 19.9% in 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 during the period. Institutional investors and hedge funds own 30.68% of the company’s stock.
BioXcel Therapeutics Company Profile
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.