BioXcel Therapeutics (NASDAQ:BTAI) Shares Gap Up to $23.85

Shares of BioXcel Therapeutics Inc (NASDAQ:BTAI) gapped up before the market opened on Friday . The stock had previously closed at $8.97, but opened at $23.85. BioXcel Therapeutics shares last traded at $36.97, with a volume of 4,663,335 shares trading hands.

A number of brokerages have recently commented on BTAI. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of BioXcel Therapeutics in a report on Wednesday, February 5th. Canaccord Genuity increased their price objective on BioXcel Therapeutics from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. ValuEngine lowered BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, December 16th. SunTrust Banks started coverage on BioXcel Therapeutics in a report on Tuesday, November 12th. They set a “buy” rating and a $24.00 target price on the stock. Finally, BMO Capital Markets reiterated a “positive” rating and issued a $26.00 price target on shares of BioXcel Therapeutics in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. BioXcel Therapeutics currently has a consensus rating of “Buy” and an average price target of $23.80.

The firm has a market cap of $381.98 million, a price-to-earnings ratio of -18.12 and a beta of 3.73. The business’s 50-day simple moving average is $16.34 and its two-hundred day simple moving average is $9.74. The company has a current ratio of 5.04, a quick ratio of 5.04 and a debt-to-equity ratio of 0.03.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings results on Thursday, November 14th. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.02. On average, analysts forecast that BioXcel Therapeutics Inc will post -2.26 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. California Public Employees Retirement System boosted its position in BioXcel Therapeutics by 5.8% during the third quarter. California Public Employees Retirement System now owns 315,700 shares of the company’s stock valued at $2,223,000 after acquiring an additional 17,300 shares during the last quarter. Squarepoint Ops LLC boosted its position in shares of BioXcel Therapeutics by 10.5% during the 3rd quarter. Squarepoint Ops LLC now owns 35,548 shares of the company’s stock valued at $250,000 after purchasing an additional 3,386 shares in the last quarter. State Street Corp boosted its position in shares of BioXcel Therapeutics by 32.2% during the 3rd quarter. State Street Corp now owns 84,813 shares of the company’s stock valued at $597,000 after purchasing an additional 20,671 shares in the last quarter. BlackRock Inc. grew its stake in BioXcel Therapeutics by 1,988.0% during the second quarter. BlackRock Inc. now owns 299,145 shares of the company’s stock worth $3,278,000 after purchasing an additional 284,818 shares during the period. Finally, Rational Advisors LLC acquired a new stake in BioXcel Therapeutics during the third quarter worth approximately $48,000. Institutional investors own 22.54% of the company’s stock.

BioXcel Therapeutics Company Profile (NASDAQ:BTAI)

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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