Shares of BioXcel Therapeutics Inc (NASDAQ:BTAI) have earned an average recommendation of “Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $95.57.
Several analysts have commented on BTAI shares. Guggenheim raised their target price on shares of BioXcel Therapeutics from $101.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Jefferies Financial Group started coverage on shares of BioXcel Therapeutics in a report on Wednesday, September 2nd. They issued a “buy” rating and a $82.00 price objective on the stock. BidaskClub downgraded shares of BioXcel Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 22nd. HC Wainwright lowered their price objective on shares of BioXcel Therapeutics from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Finally, Bank of America lifted their price objective on shares of BioXcel Therapeutics from $53.00 to $63.00 and gave the company a “buy” rating in a report on Monday, July 13th.
Institutional investors have recently made changes to their positions in the company. Artemis Investment Management LLP raised its stake in BioXcel Therapeutics by 42.8% during the third quarter. Artemis Investment Management LLP now owns 1,001,708 shares of the company’s stock worth $43,383,000 after acquiring an additional 300,210 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of BioXcel Therapeutics by 17.5% in the 2nd quarter. Vanguard Group Inc. now owns 576,588 shares of the company’s stock worth $30,564,000 after purchasing an additional 86,019 shares in the last quarter. Avidity Partners Management LP lifted its holdings in shares of BioXcel Therapeutics by 83.9% in the 2nd quarter. Avidity Partners Management LP now owns 388,095 shares of the company’s stock worth $20,573,000 after purchasing an additional 177,095 shares in the last quarter. Logos Global Management LP bought a new position in shares of BioXcel Therapeutics in the 2nd quarter worth $15,903,000. Finally, Nuveen Asset Management LLC lifted its holdings in shares of BioXcel Therapeutics by 0.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 155,007 shares of the company’s stock worth $8,217,000 after purchasing an additional 861 shares in the last quarter. 39.74% of the stock is owned by institutional investors.
BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Friday, August 14th. The company reported ($1.06) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.32). On average, sell-side analysts forecast that BioXcel Therapeutics will post -3.38 earnings per share for the current year.
About BioXcel Therapeutics
BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.
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