HC Wainwright Increases BioXcel Therapeutics (NASDAQ:BTAI) Price Target to $10.00

BioXcel Therapeutics (NASDAQ:BTAI) had its price objective boosted by equities researchers at HC Wainwright to $10.00 in a research report issued to clients and investors on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 82.48% from the stock’s previous close.

Separately, Wall Street Zen downgraded shares of BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Two investment analysts have rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $39.75.

BioXcel Therapeutics Trading Up 15.4%

NASDAQ BTAI opened at $5.48 on Friday. BioXcel Therapeutics has a 12 month low of $1.17 and a 12 month high of $13.36. The stock has a 50-day simple moving average of $2.35 and a 200 day simple moving average of $2.20. The company has a market capitalization of $33.21 million, a PE ratio of -0.43 and a beta of 0.05.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Tuesday, August 12th. The company reported ($2.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.30) by ($0.15). The firm had revenue of $0.12 million during the quarter, compared to the consensus estimate of $0.21 million. As a group, sell-side analysts predict that BioXcel Therapeutics will post -24.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioXcel Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of BTAI. Diversify Wealth Management LLC bought a new stake in BioXcel Therapeutics during the 2nd quarter worth approximately $27,000. XTX Topco Ltd bought a new stake in shares of BioXcel Therapeutics during the second quarter worth $42,000. Goldman Sachs Group Inc. bought a new stake in shares of BioXcel Therapeutics during the first quarter worth $50,000. Geode Capital Management LLC raised its holdings in shares of BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after acquiring an additional 6,120 shares during the period. Finally, Oaktree Fund Advisors LLC bought a new stake in BioXcel Therapeutics in the 2nd quarter valued at $78,000. 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.