BioXcel Therapeutics, Inc. (NASDAQ:BTAI) Receives $11.80 Average Price Target from Analysts

Shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.80.

BTAI has been the subject of a number of analyst reports. HC Wainwright reiterated a “buy” rating and set a $10.00 target price on shares of BioXcel Therapeutics in a report on Friday, May 10th. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 target price on shares of BioXcel Therapeutics in a report on Thursday, June 27th.

Insider Buying and Selling

In related news, CEO Vimal Mehta sold 126,014 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $1.63, for a total value of $205,402.82. Following the completion of the transaction, the chief executive officer now directly owns 7,811,515 shares of the company’s stock, valued at $12,732,769.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 128,520 shares of company stock valued at $208,611 over the last three months. Corporate insiders own 35.80% of the company’s stock.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rosalind Advisors Inc. bought a new position in shares of BioXcel Therapeutics during the second quarter valued at approximately $51,000. Vanguard Group Inc. increased its stake 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 valued at $3,100,000 after purchasing an additional 9,912 shares in the last quarter. Virtu Financial LLC bought a new position in shares of BioXcel Therapeutics during the fourth quarter valued at approximately $176,000. Pennant Investors LP bought a new position in shares of BioXcel Therapeutics during the fourth quarter valued at approximately $248,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of BioXcel Therapeutics by 239.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock valued at $41,000 after purchasing an additional 9,754 shares in the last quarter. Institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Stock Down 3.9 %

NASDAQ BTAI opened at $0.99 on Friday. The company has a 50-day simple moving average of $1.30 and a two-hundred day simple moving average of $2.27. The firm has a market cap of $37.15 million, a price-to-earnings ratio of -0.19 and a beta of 0.32. BioXcel Therapeutics has a 12-month low of $0.97 and a 12-month high of $7.99.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Thursday, May 9th. The company reported ($0.87) earnings per share 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 prior year, the company posted ($1.84) EPS. Equities analysts expect that BioXcel Therapeutics will post -2.74 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.