BioXcel Therapeutics (NASDAQ:BTAI) Earns Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a research note released on Tuesday, Benzinga reports. The brokerage currently has a $10.00 target price on the stock.

BTAI has been the topic of several other research reports. Canaccord Genuity Group decreased their price target on BioXcel Therapeutics from $18.00 to $7.00 and set a buy rating on the stock in a research note on Thursday, March 14th. Bank of America dropped their price target on BioXcel Therapeutics from $8.00 to $7.00 and set a buy rating for the company in a research report on Wednesday, March 13th. Finally, UBS Group reiterated a neutral rating and issued a $4.00 price objective (down from $9.00) on shares of BioXcel Therapeutics in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $16.71.

BioXcel Therapeutics Price Performance

Shares of BTAI stock opened at $2.61 on Tuesday. The business’s fifty day moving average price is $2.92 and its 200 day moving average price is $3.19. The firm has a market capitalization of $96.66 million, a PE ratio of -0.42 and a beta of 0.40. BioXcel Therapeutics has a 1-year low of $1.91 and a 1-year high of $29.56.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.22. BioXcel Therapeutics had a negative net margin of 12,974.86% and a negative return on equity of 890.63%. The business had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $1.17 million. Equities research analysts expect that BioXcel Therapeutics will post -2.39 earnings per share for the current fiscal year.

Institutional Trading of BioXcel Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC acquired a new stake in shares of BioXcel Therapeutics during the fourth quarter worth $31,000. Truist Financial Corp acquired a new stake in BioXcel Therapeutics in the 4th quarter worth about $32,000. Tower Research Capital LLC TRC grew its holdings in BioXcel Therapeutics by 239.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock valued at $41,000 after buying an additional 9,754 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of BioXcel Therapeutics by 89.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company’s stock valued at $86,000 after acquiring an additional 16,032 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of BioXcel Therapeutics during the 4th quarter worth about $176,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc, a commercial-stage biopharmaceutical company, engages in utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology. The company's drug re-innovation approach leverages existing approved drugs and/or clinically validated product candidates together with big data and proprietary machine learning algorithms to identify new therapeutic indices.