BioXcel Therapeutics (NASDAQ:BTAI) Stock Rating Upgraded by Zacks Investment Research

BioXcel Therapeutics (NASDAQ:BTAI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “BioXcel Therapeutics Inc. is a clinical stage biopharmaceutical company. It focuses on drug development which utilizes novel artificial intelligence to identify the next wave of medicines across neuroscience and immuno-oncology. The company’s product portfolio include 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 treatment of a rare form of prostate cancer and for treatment of pancreatic cancer. BioXcel Therapeutics Inc. is based in the United States. “

Several other brokerages have also recently commented on BTAI. ValuEngine cut BioXcel Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 20th. HC Wainwright set a $25.00 target price on BioXcel Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, August 21st.

Shares of BioXcel Therapeutics stock opened at $10.47 on Wednesday. The stock has a market cap of $136.55 million, a PE ratio of -7.93 and a beta of 3.05. The business has a fifty day simple moving average of $9.54 and a 200-day simple moving average of $10.08. The company has a quick ratio of 3.93, a current ratio of 3.93 and a debt-to-equity ratio of 0.04. BioXcel Therapeutics has a 12 month low of $2.41 and a 12 month high of $12.00.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its earnings results on Tuesday, August 6th. The company reported ($0.54) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.02). Analysts expect that BioXcel Therapeutics will post -2.22 EPS for the current fiscal year.

In other news, Director Peter Mueller acquired 8,446 shares of BioXcel Therapeutics stock in a transaction that occurred on Thursday, August 22nd. The stock was purchased at an average price of $8.74 per share, with a total value of $73,818.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vimal Mehta acquired 2,983 shares of BioXcel Therapeutics stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $8.64 per share, with a total value of $25,773.12. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 18,976 shares of company stock valued at $165,104. Insiders own 64.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in BioXcel Therapeutics by 45.4% during the second quarter. Vanguard Group Inc. now owns 259,301 shares of the company’s stock valued at $2,842,000 after buying an additional 80,959 shares in the last quarter. BlackRock Inc. raised its holdings in BioXcel Therapeutics by 1,988.0% during the second quarter. BlackRock Inc. now owns 299,145 shares of the company’s stock valued at $3,278,000 after buying an additional 284,818 shares in the last quarter. Northern Trust Corp raised its holdings in BioXcel Therapeutics by 247.7% during the second quarter. Northern Trust Corp now owns 43,822 shares of the company’s stock valued at $481,000 after buying an additional 31,218 shares in the last quarter. Renaissance Technologies LLC raised its holdings in BioXcel Therapeutics by 59.8% during the second quarter. Renaissance Technologies LLC now owns 71,600 shares of the company’s stock valued at $785,000 after buying an additional 26,800 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in BioXcel Therapeutics during the second quarter valued at about $198,000. Institutional investors own 19.05% of the company’s stock.

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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