HC Wainwright Issues Pessimistic Forecast for BioXcel Therapeutics (NASDAQ:BTAI) Stock Price

BioXcel Therapeutics (NASDAQ:BTAI) had its price target reduced by HC Wainwright from $6.00 to $5.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 309.84% from the company’s previous close.

Several other research firms have also commented on BTAI. Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. Rodman & Renshaw initiated coverage on BioXcel Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target for the company. Finally, Wall Street Zen raised BioXcel Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

BioXcel Therapeutics Stock Down 9.0%

Shares of NASDAQ BTAI opened at $1.22 on Thursday. The firm has a market cap of $33.03 million, a price-to-earnings ratio of -0.18 and a beta of 0.18. The company’s 50-day simple moving average is $1.57 and its 200-day simple moving average is $1.93. BioXcel Therapeutics has a 52-week low of $1.15 and a 52-week high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings results on Friday, March 27th. The company reported ($0.58) earnings per share for the quarter, hitting the consensus estimate of ($0.58). The company had revenue of $0.26 million for the quarter, compared to analyst estimates of $0.15 million. Equities research analysts anticipate that BioXcel Therapeutics will post -24.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BTAI. Geode Capital Management LLC grew its position in shares of BioXcel Therapeutics by 27.7% in the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after purchasing an additional 6,120 shares in the last quarter. Jones Financial Companies Lllp lifted its position in BioXcel Therapeutics by 38.5% during the third quarter. Jones Financial Companies Lllp now owns 36,000 shares of the company’s stock worth $97,000 after buying an additional 10,000 shares in the last quarter. State Street Corp boosted its stake in BioXcel Therapeutics by 19.9% during the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock worth $101,000 after buying an additional 10,500 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in BioXcel Therapeutics in the 2nd quarter valued at $27,000. Finally, HRT Financial LP purchased a new stake in BioXcel Therapeutics in the 4th quarter valued at $28,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.