BioXcel Therapeutics (NASDAQ:BTAI) Rating Reiterated by HC Wainwright

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

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

BioXcel Therapeutics Price Performance

NASDAQ:BTAI opened at $0.59 on Friday. The firm has a market cap of $22.15 million, a price-to-earnings ratio of -0.11 and a beta of 0.28. The firm’s fifty day moving average price is $0.93 and its 200 day moving average price is $1.88. BioXcel Therapeutics has a 1-year low of $0.58 and a 1-year high of $5.62.

BioXcel Therapeutics (NASDAQ:BTAI) last issued 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 analysts’ expectations of $0.80 million. During the same period in the previous year, the firm earned ($1.83) EPS. As a group, analysts expect that BioXcel Therapeutics will post -1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioXcel Therapeutics

Several institutional investors have recently modified their holdings of BTAI. Armistice Capital LLC raised its holdings 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 last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of BioXcel Therapeutics during the 2nd quarter worth $39,000. XTX Topco Ltd boosted 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 in the last quarter. Rosalind Advisors Inc. acquired a new stake in BioXcel Therapeutics in the 2nd quarter valued at about $51,000. Finally, Vanguard Group Inc. increased its holdings in BioXcel Therapeutics by 0.9% during the 1st 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 in the last quarter. Hedge funds and other 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.