BioXcel Therapeutics (NASDAQ:BTAI) Given “Buy” Rating at HC Wainwright

BioXcel Therapeutics (NASDAQ:BTAI)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They presently have a $10.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 333.84% from the stock’s previous close.

BTAI has been the topic of several other reports. Canaccord Genuity Group decreased their price target on shares of 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 decreased their target price on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Finally, UBS Group restated a “neutral” rating and set a $4.00 price target (down from $9.00) on shares of BioXcel Therapeutics in a research report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.71.

BioXcel Therapeutics Stock Performance

Shares of NASDAQ:BTAI opened at $2.31 on Friday. The firm has a fifty day moving average of $2.74 and a 200 day moving average of $3.15. BioXcel Therapeutics has a 52-week low of $1.91 and a 52-week high of $29.56. The firm has a market capitalization of $85.37 million, a PE ratio of -0.37 and a beta of 0.43.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.22. The firm had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $1.17 million. BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 12,974.86%. On average, sell-side analysts forecast that BioXcel Therapeutics will post -2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in shares of BioXcel Therapeutics by 239.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock worth $41,000 after purchasing an additional 9,754 shares during the last quarter. Apollon Wealth Management LLC purchased a new stake in BioXcel Therapeutics in the 4th quarter worth approximately $31,000. Truist Financial Corp bought a new stake in shares of BioXcel Therapeutics in the 4th quarter worth approximately $32,000. Bank of New York Mellon Corp raised its holdings in shares of BioXcel Therapeutics by 13.2% during the third quarter. Bank of New York Mellon Corp now owns 128,022 shares of the company’s stock valued at $324,000 after acquiring an additional 14,901 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in BioXcel Therapeutics by 89.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company’s stock worth $86,000 after acquiring an additional 16,032 shares during the period. Institutional investors own 30.68% of the company’s stock.

BioXcel Therapeutics Company Profile

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.