HC Wainwright Has Lowered Expectations for BioXcel Therapeutics (NASDAQ:BTAI) Stock Price

BioXcel Therapeutics (NASDAQ:BTAI) had its target price lowered by equities researchers at HC Wainwright from $10.00 to $6.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price suggests a potential upside of 256.08% from the company’s previous close.

BTAI has been the subject of several other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, January 21st. Zacks Research cut BioXcel Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, BioXcel Therapeutics has a consensus rating of “Hold” and an average target price of $35.50.

BioXcel Therapeutics Stock Performance

BioXcel Therapeutics stock traded up $0.04 during trading on Thursday, reaching $1.69. The company had a trading volume of 42,871,220 shares, compared to its average volume of 1,450,347. The firm’s 50-day simple moving average is $1.70 and its 200 day simple moving average is $2.32. BioXcel Therapeutics has a 1-year low of $1.17 and a 1-year high of $8.08. The firm has a market capitalization of $36.85 million, a PE ratio of -0.17 and a beta of 0.18.

Hedge Funds Weigh In On BioXcel Therapeutics

Large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in BioXcel Therapeutics by 27.7% in the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after purchasing an additional 6,120 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of BioXcel Therapeutics by 38.5% in the 3rd quarter. Jones Financial Companies Lllp now owns 36,000 shares of the company’s stock valued at $97,000 after buying an additional 10,000 shares during the period. State Street Corp boosted its stake in shares of BioXcel Therapeutics by 19.9% in the 4th quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after buying an additional 10,500 shares during the period. Diversify Wealth Management LLC purchased a new stake in shares of BioXcel Therapeutics during the second quarter worth approximately $27,000. Finally, HRT Financial LP purchased a new position in BioXcel Therapeutics in the fourth quarter worth approximately $28,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.