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

BioXcel Therapeutics (NASDAQ:BTAI)‘s stock had its “buy” rating reaffirmed by equities researchers at 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 points to a potential upside of 250.88% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Canaccord Genuity Group dropped their price objective on shares of BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. UBS Group reaffirmed a “neutral” rating and issued a $4.00 price target (down previously from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. Finally, Bank of America decreased their price objective on BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, BioXcel Therapeutics has an average rating of “Hold” and a consensus target price of $16.71.

BioXcel Therapeutics Price Performance

BTAI stock opened at $2.85 on Tuesday. BioXcel Therapeutics has a 52-week low of $1.91 and a 52-week high of $29.56. The stock has a market capitalization of $87.15 million, a price-to-earnings ratio of -0.46 and a beta of 0.40. The company has a 50-day moving average of $2.91 and a two-hundred day moving average of $3.19.

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

Institutional Trading of BioXcel Therapeutics

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted 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 during the period. Hennion & Walsh Asset Management Inc. boosted its position 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 valued at $86,000 after buying an additional 16,032 shares in the last quarter. Virtu Financial LLC acquired a new position in BioXcel Therapeutics in the fourth quarter valued at about $176,000. Pennant Investors LP bought a new stake in BioXcel Therapeutics during the fourth quarter worth about $248,000. Finally, Truist Financial Corp acquired a new stake in shares of BioXcel Therapeutics during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds 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.