BioXcel Therapeutics (NASDAQ:BTAI) Stock Rating Reaffirmed by HC Wainwright

BioXcel Therapeutics (NASDAQ:BTAI)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They currently have a $10.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 333.84% from the company’s previous close.

Several other analysts have also issued reports on BTAI. Canaccord Genuity Group reduced their price target on shares of BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Bank of America reduced their target price on BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Finally, UBS Group reissued a “neutral” rating and set a $4.00 price target (down previously from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, BioXcel Therapeutics has an average rating of “Hold” and a consensus price target of $16.71.

BioXcel Therapeutics Stock Performance

BTAI opened at $2.31 on Friday. BioXcel Therapeutics has a 52-week low of $1.91 and a 52-week high of $29.56. The firm has a market cap of $85.37 million, a P/E ratio of -0.37 and a beta of 0.43. The business’s fifty day moving average is $2.74 and its 200-day moving average is $3.15.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.22. BioXcel Therapeutics had a negative net margin of 12,974.86% and a negative return on equity of 890.63%. The business had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $1.17 million. On average, research analysts predict that BioXcel Therapeutics will post -2.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BTAI. Tower Research Capital LLC TRC grew its holdings in shares of BioXcel Therapeutics by 239.2% during 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 last quarter. Apollon Wealth Management LLC bought a new stake in shares of BioXcel Therapeutics in the fourth quarter worth $31,000. Truist Financial Corp bought a new stake in shares of BioXcel Therapeutics in the fourth quarter worth $32,000. Bank of New York Mellon Corp increased its holdings in BioXcel Therapeutics by 13.2% in the third quarter. Bank of New York Mellon Corp now owns 128,022 shares of the company’s stock valued at $324,000 after purchasing an additional 14,901 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its position in BioXcel Therapeutics by 89.5% during the 3rd 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 last quarter. 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.