BioXcel Therapeutics (NASDAQ:BTAI) Earns “Buy” Rating from HC Wainwright

BioXcel Therapeutics (NASDAQ:BTAI)‘s stock had its “buy” rating restated by research analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They currently have a $7.00 price objective on the stock.

BTAI has been the topic of a number of other research reports. UBS Group decreased their target price on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. Canaccord Genuity Group restated a “buy” rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a report on Friday, August 30th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $5.50.

BioXcel Therapeutics Stock Down 1.7 %

NASDAQ BTAI opened at $0.59 on Friday. BioXcel Therapeutics has a fifty-two week low of $0.58 and a fifty-two week high of $5.62. The business has a fifty day moving average of $0.93 and a 200-day moving average of $1.88. The stock has a market cap of $22.15 million, a price-to-earnings ratio of -0.11 and a beta of 0.28.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its earnings results on Tuesday, August 6th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.55. The firm had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.80 million. During the same period in the previous year, the firm posted ($1.83) EPS. As a group, analysts anticipate that BioXcel Therapeutics will post -1.84 EPS for the current year.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of institutional investors have recently bought and sold shares of BTAI. Armistice Capital LLC raised its stake in BioXcel Therapeutics by 705.2% during the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after purchasing an additional 2,616,027 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BioXcel Therapeutics during the 2nd quarter worth $39,000. XTX Topco Ltd raised its position in shares of BioXcel Therapeutics by 49.0% in the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after buying an additional 15,291 shares during the period. Rosalind Advisors Inc. purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter worth $51,000. Finally, Vanguard Group Inc. boosted its holdings in BioXcel Therapeutics by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after acquiring an additional 9,912 shares during the last quarter. 30.68% of the stock is currently owned by hedge funds and other institutional investors.

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.