BioXcel Therapeutics (NASDAQ:BTAI) PT Lowered to $5.00 at HC Wainwright

BioXcel Therapeutics (NASDAQ:BTAI) had its price objective decreased by HC Wainwright from $7.00 to $5.00 in a research report sent to investors on Monday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for BioXcel Therapeutics’ Q3 2024 earnings at ($0.55) EPS, Q4 2024 earnings at ($0.49) EPS, FY2024 earnings at ($2.03) EPS, Q1 2025 earnings at ($0.45) EPS, Q2 2025 earnings at ($0.45) EPS, Q3 2025 earnings at ($0.39) EPS, Q4 2025 earnings at ($0.28) EPS and FY2025 earnings at ($1.54) EPS.

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

BioXcel Therapeutics Stock Up 3.6 %

Shares of BTAI stock opened at $0.60 on Monday. The stock has a 50-day simple moving average of $0.59 and a 200 day simple moving average of $1.30. BioXcel Therapeutics has a fifty-two week low of $0.51 and a fifty-two week high of $5.62. The stock has a market capitalization of $22.52 million, a P/E ratio of -0.12 and a beta of 0.28.

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

Institutional Investors Weigh In On BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in BTAI. Armistice Capital LLC raised its stake in shares of BioXcel Therapeutics by 705.2% during the 2nd quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after purchasing an additional 2,616,027 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of BioXcel Therapeutics during the 4th quarter worth about $176,000. Rosalind Advisors Inc. purchased a new stake in shares of BioXcel Therapeutics during the 2nd quarter worth about $51,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BioXcel Therapeutics during the 2nd quarter worth about $39,000. Finally, XTX Topco Ltd raised its stake in shares of BioXcel Therapeutics by 49.0% during the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after purchasing an additional 15,291 shares in the last quarter. 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.