BioXcel Therapeutics (NASDAQ:BTAI) Receives Buy Rating from HC Wainwright

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

Other equities analysts also recently issued research reports about the company. Bank of America dropped their price objective 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 set a $4.00 target price (down previously from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group lowered their target price 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $16.71.

BioXcel Therapeutics Trading Up 0.8 %

BioXcel Therapeutics stock opened at $2.63 on Tuesday. BioXcel Therapeutics has a 12 month low of $1.91 and a 12 month high of $29.56. The business’s 50 day simple moving average is $2.88 and its 200 day simple moving average is $3.18. The company has a market cap of $97.39 million, a price-to-earnings ratio of -0.43 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) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.22. BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 12,974.86%. The business had revenue of $0.38 million for the quarter, compared to the consensus estimate of $1.17 million. As a group, equities research analysts forecast that BioXcel Therapeutics will post -2.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of BTAI. Apollon Wealth Management LLC bought a new position in shares of BioXcel Therapeutics in the fourth quarter worth $31,000. Truist Financial Corp bought a new position in shares of BioXcel Therapeutics in the fourth quarter worth $32,000. Tower Research Capital LLC TRC increased its holdings in shares of BioXcel Therapeutics by 239.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,832 shares of the company’s stock worth $41,000 after purchasing an additional 9,754 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in shares of BioXcel Therapeutics by 89.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company’s stock worth $86,000 after purchasing an additional 16,032 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of BioXcel Therapeutics in the fourth quarter worth $176,000. Institutional investors own 30.68% of the company’s stock.

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.