HC Wainwright Cuts BioXcel Therapeutics (NASDAQ:BTAI) Price Target to $3.00

BioXcel Therapeutics (NASDAQ:BTAI) had its price objective reduced by HC Wainwright from $5.00 to $3.00 in a research note released on Thursday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on BTAI. Bank of America reiterated an “underperform” rating and issued a $0.25 price objective (down previously from $7.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. Canaccord Genuity Group reduced their price target on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, January 6th.

BioXcel Therapeutics Stock Performance

NASDAQ:BTAI opened at $0.33 on Thursday. BioXcel Therapeutics has a fifty-two week low of $0.30 and a fifty-two week high of $4.17. The company has a 50 day moving average price of $0.39 and a 200 day moving average price of $0.59. The stock has a market capitalization of $16.18 million, a P/E ratio of -0.15 and a beta of -0.01.

Hedge Funds Weigh In On BioXcel Therapeutics

A hedge fund recently bought a new stake in BioXcel Therapeutics stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of BioXcel Therapeutics, Inc. (NASDAQ:BTAI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,295 shares of the company’s stock, valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. owned about 0.08% of BioXcel Therapeutics at the end of the most recent reporting period. 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.