BioXcel Therapeutics (NASDAQ:BTAI) Stock Rating Reaffirmed by HC Wainwright

BioXcel Therapeutics (NASDAQ:BTAI)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They currently have a $7.00 target price on the stock.

Several other research analysts have also recently issued reports on the stock. UBS Group cut their price target on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $7.00 price target on shares of BioXcel Therapeutics in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, BioXcel Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

BioXcel Therapeutics Stock Down 7.4 %

BTAI opened at $0.55 on Friday. BioXcel Therapeutics has a 52 week low of $0.54 and a 52 week high of $5.62. The business has a 50 day moving average price of $0.92 and a two-hundred day moving average price of $1.84. The company has a market cap of $20.51 million, a PE ratio of -0.11 and a beta of 0.28.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.55. The company had revenue of $1.10 million for the quarter, compared to analyst estimates of $0.80 million. During the same period in the prior year, the business earned ($1.83) earnings per share. As a group, sell-side analysts expect that BioXcel Therapeutics will post -1.84 EPS for the current fiscal year.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in BioXcel Therapeutics by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after purchasing an additional 9,912 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of BioXcel Therapeutics during the 4th quarter worth $31,000. Truist Financial Corp purchased a new stake in shares of BioXcel Therapeutics in the 4th quarter worth about $32,000. XTX Topco Ltd grew its stake in BioXcel Therapeutics by 49.0% in the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after acquiring an additional 15,291 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in BioXcel Therapeutics during the 2nd quarter valued at about $39,000. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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.