BioXcel Therapeutics (NASDAQ:BTAI) Rating Reiterated by Canaccord Genuity Group

BioXcel Therapeutics (NASDAQ:BTAI)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity Group in a report issued on Friday, Benzinga reports. They presently have a $7.00 target price on the stock.

A number of other analysts also recently issued reports on BTAI. HC Wainwright decreased their target price on BioXcel Therapeutics from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. UBS Group cut their price target on BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating for the company 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.50.

BioXcel Therapeutics Price Performance

NASDAQ:BTAI opened at $0.62 on Friday. The business has a fifty day simple moving average of $0.99 and a two-hundred day simple moving average of $1.94. BioXcel Therapeutics has a 1 year low of $0.58 and a 1 year high of $5.62. The company has a market capitalization of $23.08 million, a P/E ratio of -0.12 and a beta of 0.32.

BioXcel Therapeutics (NASDAQ:BTAI) last released its 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 firm had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $0.80 million. During the same period in the prior year, the business earned ($1.83) earnings per share. As a group, analysts anticipate that BioXcel Therapeutics will post -2.74 earnings per share for the current year.

Insider Transactions at BioXcel Therapeutics

In other news, CEO Vimal Mehta sold 126,014 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $1.63, for a total value of $205,402.82. Following the completion of the transaction, the chief executive officer now directly owns 7,811,515 shares of the company’s stock, valued at $12,732,769.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 128,520 shares of company stock valued at $208,611 over the last three months. Company insiders own 35.80% of the company’s stock.

Institutional Investors Weigh In On BioXcel Therapeutics

Several large investors have recently added to or reduced their stakes in BTAI. Apollon Wealth Management LLC bought a new stake in BioXcel Therapeutics during the fourth quarter valued at $31,000. Truist Financial Corp bought a new stake in BioXcel Therapeutics during the fourth quarter valued at $32,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in BioXcel Therapeutics during the second quarter valued at $39,000. Rosalind Advisors Inc. bought a new stake in BioXcel Therapeutics during the second quarter valued at $51,000. Finally, XTX Topco Ltd boosted its stake in BioXcel Therapeutics by 49.0% during the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after buying an additional 15,291 shares during the period. Institutional investors own 30.68% of the company’s stock.

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.