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

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

A number of other equities research analysts have also recently commented on the company. Zacks Research cut BioXcel Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 26th. Wall Street Zen cut BioXcel Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, BioXcel Therapeutics has an average rating of “Moderate Buy” and an average target price of $39.75.

BioXcel Therapeutics Stock Up 1.9%

Shares of BTAI stock opened at $3.17 on Monday. The stock has a market cap of $50.75 million, a price-to-earnings ratio of -0.25 and a beta of 0.18. The business’s fifty day moving average is $3.35 and its 200 day moving average is $2.38. BioXcel Therapeutics has a twelve month low of $1.17 and a twelve month high of $13.36.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($2.30) by ($0.15). The company had revenue of $0.12 million during the quarter, compared to the consensus estimate of $0.21 million. Equities research analysts expect 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 have recently added to or reduced their stakes in the company. Oaktree Capital Management LP purchased a new position in BioXcel Therapeutics during the 2nd quarter valued at approximately $437,000. Murchinson Ltd. purchased a new position in BioXcel Therapeutics during the 1st quarter valued at approximately $276,000. Northern Trust Corp boosted its holdings in shares of BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after purchasing an additional 33,161 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of BioXcel Therapeutics by 203.9% in the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after purchasing an additional 48,336 shares during the period. Finally, Oaktree Fund Advisors LLC purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter worth approximately $78,000. Hedge funds and other 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.