BioXcel Therapeutics (BTAI) Upgraded to “Buy” at Zacks Investment Research

BioXcel Therapeutics (NASDAQ:BTAI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $12.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential upside of 12.25% from the company’s current price.

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. “

Other analysts have also recently issued reports about the company. ValuEngine cut BioXcel Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. HC Wainwright set a $25.00 price objective on BioXcel Therapeutics and gave the company a “buy” rating in a research note on Tuesday, March 26th. Finally, Canaccord Genuity set a $21.00 price objective on BioXcel Therapeutics and gave the company a “buy” rating in a research note on Friday, March 8th.

Shares of NASDAQ BTAI traded down $0.19 during mid-day trading on Friday, hitting $10.69. The company had a trading volume of 16,541 shares, compared to its average volume of 75,924. The stock has a market cap of $164.33 million, a P/E ratio of -8.10 and a beta of 4.10. The company has a current ratio of 5.59, a quick ratio of 5.59 and a debt-to-equity ratio of 0.04. BioXcel Therapeutics has a 1-year low of $2.41 and a 1-year high of $14.79.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.02. On average, equities analysts forecast that BioXcel Therapeutics will post -2.21 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Northern Trust Corp purchased a new position in BioXcel Therapeutics in the first quarter valued at $125,000. Creative Planning purchased a new position in BioXcel Therapeutics in the first quarter valued at $302,000. Finally, Renaissance Technologies LLC purchased a new position in BioXcel Therapeutics in the first quarter valued at $443,000. 16.05% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Systematic Risk

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