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

BioXcel Therapeutics (NASDAQ:BTAI)‘s stock had its “buy” rating restated by HC Wainwright in a report released on Tuesday, Benzinga reports. They currently have a $10.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 250.88% from the company’s previous close.

A number of other research firms have also recently commented on BTAI. Bank of America reduced their target price on BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. UBS Group reissued a “neutral” rating and issued a $4.00 target price (down previously from $9.00) on shares of BioXcel Therapeutics in a research note on Wednesday, February 21st. Finally, Canaccord Genuity Group reduced their target price 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. Four equities 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 has an average rating of “Hold” and a consensus target price of $16.71.

BioXcel Therapeutics Trading Up 3.6 %

BioXcel Therapeutics stock opened at $2.85 on Tuesday. The company has a market cap of $87.15 million, a price-to-earnings ratio of -0.46 and a beta of 0.40. The business’s 50 day simple moving average is $2.91 and its 200 day simple moving average is $3.19. BioXcel Therapeutics has a 12 month low of $1.91 and a 12 month high of $29.56.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.22. The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $1.17 million. BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 12,974.86%. As a group, equities research analysts forecast that BioXcel Therapeutics will post -2.46 earnings per share for the current fiscal year.

Institutional Trading of BioXcel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in shares of BioXcel Therapeutics by 239.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock valued at $41,000 after purchasing an additional 9,754 shares in the last quarter. Apollon Wealth Management LLC bought a new position in shares of BioXcel Therapeutics during the fourth quarter valued at approximately $31,000. Truist Financial Corp bought a new position in shares of BioXcel Therapeutics during the fourth quarter valued at approximately $32,000. Bank of New York Mellon Corp increased its stake 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 purchasing an additional 14,901 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of BioXcel Therapeutics by 89.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company’s stock valued at $86,000 after purchasing an additional 16,032 shares in the last quarter. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

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.