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

HC Wainwright restated their buy rating on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a research report report published on Tuesday, Benzinga reports. They currently have a $10.00 target price on the stock.

A number of other equities analysts have also weighed in on BTAI. Bank of America decreased 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. UBS Group reiterated a neutral rating and issued a $4.00 price target (down previously from $9.00) on shares of BioXcel Therapeutics in a research report on Wednesday, February 21st. Finally, Canaccord Genuity Group decreased their price target on BioXcel Therapeutics from $18.00 to $7.00 and set a buy rating for the company in a research report on Thursday, March 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $16.71.

BioXcel Therapeutics Stock Up 0.8 %

NASDAQ:BTAI opened at $2.63 on Tuesday. The business’s 50-day moving average price is $2.88 and its 200 day moving average price is $3.18. The firm has a market cap of $97.39 million, a P/E ratio of -0.43 and a beta of 0.40. BioXcel Therapeutics has a 52-week low of $1.91 and a 52-week high of $29.56.

BioXcel Therapeutics (NASDAQ:BTAI) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.98) by $0.22. BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 12,974.86%. The business had revenue of $0.38 million during the quarter, compared to analyst estimates of $1.17 million. Sell-side analysts expect that BioXcel Therapeutics will post -2.46 EPS for the current year.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Pennant Investors LP acquired a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at about $248,000. Virtu Financial LLC acquired a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at about $176,000. Hennion & Walsh Asset Management Inc. lifted its holdings 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 buying an additional 16,032 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of BioXcel Therapeutics by 13.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 128,022 shares of the company’s stock valued at $324,000 after buying an additional 14,901 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at about $32,000. 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.