BioXcel Therapeutics (NASDAQ:BTAI) Price Target Cut to $5.00 by Analysts at HC Wainwright

BioXcel Therapeutics (NASDAQ:BTAI) had its price objective lowered by HC Wainwright from $7.00 to $5.00 in a research note published on Monday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

BTAI has been the subject of several other reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, August 30th. UBS Group dropped their price objective on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating for the company in a research note on Friday, August 9th.

BioXcel Therapeutics Price Performance

Shares of BTAI opened at $0.55 on Monday. BioXcel Therapeutics has a 1 year low of $0.51 and a 1 year high of $5.62. The company has a 50 day simple moving average of $0.60 and a two-hundred day simple moving average of $1.34. The firm has a market cap of $20.61 million, a P/E ratio of -0.11 and a beta of 0.28.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.55. The company had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $0.80 million. During the same period last year, the business earned ($1.83) earnings per share. On average, sell-side analysts anticipate that BioXcel Therapeutics will post -1.84 earnings per share for the current year.

Institutional Trading of BioXcel Therapeutics

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of BioXcel Therapeutics by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after purchasing an additional 9,912 shares during the period. XTX Topco Ltd boosted its stake in shares of 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 purchasing an additional 15,291 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BioXcel Therapeutics in the second quarter worth about $39,000. Rosalind Advisors Inc. purchased a new stake in BioXcel Therapeutics in the second quarter worth about $51,000. Finally, Virtu Financial LLC purchased a new stake in BioXcel Therapeutics in the fourth quarter worth about $176,000. 30.68% of the stock is owned by hedge funds and other 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.