HC Wainwright Reaffirms Buy Rating for BioXcel Therapeutics (NASDAQ:BTAI)

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

Several other research analysts have also issued reports on the stock. UBS Group reissued a neutral rating and set a $4.00 target price (down from $9.00) on shares of BioXcel Therapeutics in a research note on Wednesday, February 21st. Bank of America cut 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 note on Wednesday, March 13th. Finally, 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 research note on Thursday, March 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, BioXcel Therapeutics currently has an average rating of Hold and a consensus price target of $16.71.

BioXcel Therapeutics Stock Up 4.2 %

BTAI opened at $2.97 on Tuesday. BioXcel Therapeutics has a twelve month low of $1.91 and a twelve month high of $29.56. The company has a fifty day moving average of $2.93 and a 200-day moving average of $3.19. The stock has a market cap of $90.82 million, a PE ratio of -0.48 and a beta of 0.40.

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

Institutional Investors Weigh In On BioXcel Therapeutics

Several hedge funds have recently bought and sold shares of BTAI. Pennant Investors LP bought a new stake in BioXcel Therapeutics during the fourth quarter valued at approximately $248,000. Virtu Financial LLC bought a new stake in BioXcel Therapeutics during the fourth quarter valued at approximately $176,000. Hennion & Walsh Asset Management Inc. lifted its position in 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 during the last quarter. Bank of New York Mellon Corp lifted its position in 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 during the last quarter. Finally, Truist Financial Corp bought a new stake in BioXcel Therapeutics during the fourth quarter valued at approximately $32,000. 30.68% of the stock is currently owned by 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.