BioXcel Therapeutics (NASDAQ:BTAI) Price Target Cut to $7.00

BioXcel Therapeutics (NASDAQ:BTAI) had its price objective lowered by equities researchers at Canaccord Genuity Group from $18.00 to $7.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 155.47% from the company’s current price.

A number of other research analysts have also issued reports on BTAI. UBS Group reiterated a “neutral” rating and issued a $4.00 target price (down from $9.00) on shares of BioXcel Therapeutics in a research note on Wednesday, February 21st. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of BioXcel Therapeutics in a report on Monday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.86.

BioXcel Therapeutics Stock Up 2.2 %

Shares of BTAI traded up $0.06 during mid-day trading on Thursday, hitting $2.74. 408,774 shares of the company’s stock were exchanged, compared to its average volume of 1,738,804. The firm has a fifty day moving average of $3.03 and a two-hundred day moving average of $3.26. BioXcel Therapeutics has a twelve month low of $1.91 and a twelve month high of $29.56. The stock has a market cap of $83.24 million, a price-to-earnings ratio of -0.45 and a beta of 0.42. The company has a quick ratio of 2.45, a current ratio of 2.51 and a debt-to-equity ratio of 16.52.

Institutional Trading of BioXcel Therapeutics

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. boosted its position in BioXcel Therapeutics by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 143,893 shares of the company’s stock valued at $2,685,000 after buying an additional 611 shares in the last quarter. Legal & General Group Plc boosted its position in BioXcel Therapeutics by 7.5% in the fourth quarter. Legal & General Group Plc now owns 9,678 shares of the company’s stock valued at $208,000 after buying an additional 678 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in BioXcel Therapeutics by 5.7% in the second quarter. Price T Rowe Associates Inc. MD now owns 14,747 shares of the company’s stock valued at $195,000 after buying an additional 794 shares in the last quarter. JPMorgan Chase & Co. boosted its position in BioXcel Therapeutics by 9.5% in the fourth quarter. JPMorgan Chase & Co. now owns 11,595 shares of the company’s stock valued at $249,000 after buying an additional 1,006 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of BioXcel Therapeutics by 205.2% in the first quarter. Tower Research Capital LLC TRC now owns 1,529 shares of the company’s stock worth $29,000 after acquiring an additional 1,028 shares during the last quarter. 90.86% of the stock is currently owned by institutional investors and hedge funds.

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.