HC Wainwright Boosts BioXcel Therapeutics (NASDAQ:BTAI) Price Target to $10.00

BioXcel Therapeutics (NASDAQ:BTAI) had its price target boosted by equities researchers at HC Wainwright to $10.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target suggests a potential upside of 103.25% from the company’s previous close.

Separately, Wall Street Zen cut BioXcel Therapeutics from a “hold” rating to a “sell” rating in a report on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.75.

BioXcel Therapeutics Stock Performance

Shares of NASDAQ:BTAI traded down $0.75 during trading hours on Friday, hitting $4.92. The stock had a trading volume of 6,996,876 shares, compared to its average volume of 5,096,000. BioXcel Therapeutics has a 1-year low of $1.17 and a 1-year high of $13.36. The firm has a market capitalization of $29.82 million, a price-to-earnings ratio of -0.39 and a beta of 0.05. The stock’s fifty day simple moving average is $2.43 and its 200 day simple moving average is $2.18.

BioXcel Therapeutics (NASDAQ:BTAI) last released its earnings results on Tuesday, August 12th. The company reported ($2.45) earnings per share for the quarter, missing the consensus estimate of ($2.30) by ($0.15). The business had revenue of $0.12 million during the quarter, compared to the consensus estimate of $0.21 million. As a group, research analysts anticipate that BioXcel Therapeutics will post -24.39 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in shares of BioXcel Therapeutics by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after purchasing an additional 13,952 shares during the period. Northern Trust Corp raised its position in BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock valued at $28,000 after buying an additional 33,161 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of BioXcel Therapeutics by 203.9% in the fourth quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock valued at $27,000 after acquiring an additional 48,336 shares in the last quarter. Geode Capital Management LLC increased its position in shares of BioXcel Therapeutics by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock valued at $117,000 after purchasing an additional 13,922 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of BioXcel Therapeutics during the 1st quarter worth $50,000. 30.68% of the stock is currently owned by institutional investors.

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.