BioXcel Therapeutics (NASDAQ:BTAI) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a report issued on Friday, Benzinga reports. HC Wainwright currently has a $7.00 price objective on the stock.

A number of other research analysts also recently commented on BTAI. Canaccord Genuity Group reaffirmed a buy rating and issued a $7.00 price target on shares of BioXcel Therapeutics in a research note on Friday, August 30th. 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 report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, BioXcel Therapeutics has an average rating of Moderate Buy and an average price target of $5.50.

BioXcel Therapeutics Stock Up 1.3 %

NASDAQ BTAI opened at $0.55 on Friday. BioXcel Therapeutics has a 12-month low of $0.54 and a 12-month high of $5.62. The firm has a 50-day moving average price of $0.91 and a two-hundred day moving average price of $1.82. The company has a market capitalization of $22.56 million, a P/E ratio of -0.11 and a beta of 0.28.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.55. The company had revenue of $1.10 million for the quarter, compared to analyst estimates of $0.80 million. During the same period in the prior year, the company earned ($1.83) EPS. Equities analysts expect that BioXcel Therapeutics will post -1.84 EPS for the current year.

Institutional Trading of BioXcel Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Armistice Capital LLC grew its position in BioXcel Therapeutics by 705.2% in the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after acquiring an additional 2,616,027 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of BioXcel Therapeutics during the 2nd quarter valued at approximately $39,000. XTX Topco Ltd increased its position in BioXcel Therapeutics by 49.0% during the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after purchasing an additional 15,291 shares in the last quarter. Rosalind Advisors Inc. bought a new position in BioXcel Therapeutics in the 2nd quarter valued at approximately $51,000. Finally, Vanguard Group Inc. boosted its position 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 buying an additional 9,912 shares in the last quarter. 30.68% of the stock is currently owned by 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.