BioXcel Therapeutics' (BTAI) "Buy" Rating Reaffirmed at HC Wainwright

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

A number of other research firms have also recently commented on BTAI. UBS Group reissued a neutral rating and issued a $4.00 price target (down previously from $9.00) on shares of BioXcel Therapeutics in a research note on Wednesday, February 21st. 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 research note on Wednesday, March 13th. Finally, Canaccord Genuity Group lowered their price target on BioXcel Therapeutics from $18.00 to $7.00 and set a buy rating on the stock in a research report on Thursday, March 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $16.71.

BioXcel Therapeutics Trading Up 4.2 %

Shares of BioXcel Therapeutics stock traded up $0.12 during trading on Tuesday, hitting $2.97. The stock had a trading volume of 407,992 shares, compared to its average volume of 1,323,363. The firm has a market cap of $90.82 million, a price-to-earnings ratio of -0.49 and a beta of 0.40. BioXcel Therapeutics has a 12 month low of $1.91 and a 12 month high of $29.56. The business's 50-day moving average is $2.91 and its 200 day moving average is $3.19.

BioXcel Therapeutics (NASDAQ:BTAI - Get Free Report) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.98) by $0.22. BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 12,974.86%. The firm had revenue of $0.38 million for the quarter, compared to analysts' expectations of $1.17 million. As a group, equities analysts expect that BioXcel Therapeutics will post -2.46 EPS for the current year.

Institutional Investors Weigh In On BioXcel Therapeutics

Several institutional investors have recently added to or reduced their stakes in BTAI. Bank of New York Mellon Corp raised its stake in shares of 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 worth $324,000 after purchasing an additional 14,901 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in BioXcel Therapeutics by 89.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 33,940 shares of the company's stock worth $86,000 after buying an additional 16,032 shares during the last quarter. Virtu Financial LLC purchased a new position in BioXcel Therapeutics in the 4th quarter worth about $176,000. Pennant Investors LP bought a new position in BioXcel Therapeutics during the 4th quarter valued at about $248,000. Finally, Truist Financial Corp purchased a new stake in shares of BioXcel Therapeutics during the 4th quarter valued at about $32,000. 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.