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

Key Points

• BioXcel Therapeutics has received a "Buy" rating from HC Wainwright, which maintains a price target of $10.00, suggesting a potential upside of 152.53% from the current stock price.
• The company reported a quarterly loss of ($2.45) per share, missing analysts' expectations, and had revenues of $0.12 million, below the anticipated $0.21 million.
• Recent performance indicates a significant decline, with BioXcel's stock price down 24.4% and currently trading at approximately $3.96.

HC Wainwright reissued their buy rating on shares of BioXcel Therapeutics (NASDAQ:BTAI - Free Report) in a report published on Thursday,Benzinga reports. The firm currently has a $10.00 target price on the stock.

Several other analysts also recently weighed in on BTAI. Zacks Research downgraded BioXcel Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 26th. Wall Street Zen downgraded BioXcel Therapeutics from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BioXcel Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $39.75.

BioXcel Therapeutics Price Performance

NASDAQ BTAI traded down $0.05 during trading hours on Thursday, hitting $4.05. The company had a trading volume of 2,697,334 shares, compared to its average volume of 22,867,826. BioXcel Therapeutics has a fifty-two week low of $1.17 and a fifty-two week high of $13.36. The company has a market capitalization of $64.84 million, a price-to-earnings ratio of -0.32 and a beta of 0.18. The firm's 50 day moving average is $2.97 and its 200 day moving average is $2.26.

BioXcel Therapeutics (NASDAQ:BTAI - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($2.30) by ($0.15). The firm had revenue of $0.12 million during the quarter, compared to the consensus estimate of $0.21 million. On average, equities analysts anticipate that BioXcel Therapeutics will post -24.39 EPS for the current year.

Hedge Funds Weigh In On BioXcel Therapeutics

Several large investors have recently modified their holdings of BTAI. Diversify Wealth Management LLC bought a new position in shares of BioXcel Therapeutics during the second quarter worth about $27,000. Squarepoint Ops LLC lifted its position in shares of BioXcel Therapeutics by 203.9% during the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company's stock worth $27,000 after purchasing an additional 48,336 shares during the last quarter. Northern Trust Corp lifted its position in shares of BioXcel Therapeutics by 81.4% during the fourth quarter. Northern Trust Corp now owns 73,910 shares of the company's stock worth $28,000 after purchasing an additional 33,161 shares during the last quarter. XTX Topco Ltd bought a new position in shares of BioXcel Therapeutics during the second quarter worth about $42,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of BioXcel Therapeutics during the first quarter worth about $50,000. 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.