BioXcel Therapeutics (NASDAQ:BTAI) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of BioXcel Therapeutics (NASDAQ:BTAI) from a buy rating to a hold rating in a report released on Tuesday morning, 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. “

A number of other research analysts have also recently weighed in on BTAI. HC Wainwright set a $25.00 price objective on shares of BioXcel Therapeutics and gave the company a buy rating in a research report on Wednesday, June 5th. ValuEngine cut shares of BioXcel Therapeutics from a buy rating to a hold rating in a research report on Monday, July 8th.

BTAI stock traded down $0.65 during mid-day trading on Tuesday, reaching $10.11. 1,261 shares of the stock traded hands, compared to its average volume of 20,834. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.59 and a quick ratio of 5.59. BioXcel Therapeutics has a one year low of $2.41 and a one year high of $12.00. The firm has a market cap of $172.64 million, a PE ratio of -7.66 and a beta of 3.03. The company has a 50-day simple moving average of $10.87.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.46) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.02. As a group, equities analysts anticipate that BioXcel Therapeutics will post -2.19 earnings per share for the current year.

An institutional investor recently bought a new position in BioXcel Therapeutics stock. Creative Planning bought a new stake in shares of BioXcel Therapeutics Inc (NASDAQ:BTAI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 30,550 shares of the company’s stock, valued at approximately $302,000. Creative Planning owned 0.20% of BioXcel Therapeutics at the end of the most recent quarter. 16.11% of the stock is owned by institutional investors and hedge funds.

BioXcel Therapeutics Company Profile

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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