BioXcel Therapeutics (NASDAQ:BTAI) Price Target Lowered to $5.00 at HC Wainwright

BioXcel Therapeutics (NASDAQ:BTAI) had its target price dropped by research analysts at HC Wainwright from $6.00 to $5.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 309.84% from the company’s previous close.

BTAI has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a report on Wednesday, January 21st. Wall Street Zen upgraded BioXcel Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Rodman & Renshaw initiated coverage on BioXcel Therapeutics in a report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price target for the company. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

BioXcel Therapeutics Price Performance

Shares of BTAI stock opened at $1.22 on Thursday. The company has a market capitalization of $33.03 million, a PE ratio of -0.18 and a beta of 0.18. The firm’s 50-day moving average is $1.57 and its two-hundred day moving average is $1.93. BioXcel Therapeutics has a 12 month low of $1.15 and a 12 month high of $8.08.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings results on Friday, March 27th. The company reported ($0.58) earnings per share for the quarter, meeting the consensus estimate of ($0.58). The firm had revenue of $0.26 million during the quarter, compared to analysts’ expectations of $0.15 million. Sell-side analysts forecast that BioXcel Therapeutics will post -24.39 EPS for the current year.

Institutional Trading of BioXcel Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Diversify Wealth Management LLC purchased a new stake in BioXcel Therapeutics in the second quarter valued at approximately $27,000. HRT Financial LP purchased a new position in shares of BioXcel Therapeutics during the fourth quarter worth $28,000. XTX Topco Ltd acquired a new stake in shares of BioXcel Therapeutics in the second quarter valued at $42,000. Goldman Sachs Group Inc. purchased a new stake in shares of BioXcel Therapeutics in the 1st quarter valued at $50,000. Finally, Geode Capital Management LLC raised its holdings in shares of BioXcel Therapeutics by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock valued at $51,000 after buying an additional 6,120 shares during the period. 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.