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

BioXcel Therapeutics (NASDAQ:BTAI) had its price objective reduced by equities research analysts at HC Wainwright from $7.00 to $5.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock.

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

BioXcel Therapeutics Price Performance

BTAI opened at $0.58 on Monday. BioXcel Therapeutics has a 12 month low of $0.51 and a 12 month high of $5.62. The business has a 50-day moving average of $0.60 and a two-hundred day moving average of $1.32. The stock has a market capitalization of $21.86 million, a price-to-earnings ratio of -0.11 and a beta of 0.28.

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, beating analysts’ consensus estimates of ($0.76) by $0.55. The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $0.80 million. During the same quarter in the previous year, the firm posted ($1.83) earnings per share. Equities research analysts anticipate that BioXcel Therapeutics will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of BioXcel Therapeutics in the second quarter worth about $39,000. Rosalind Advisors Inc. purchased a new position in BioXcel Therapeutics in the 2nd quarter worth approximately $51,000. XTX Topco Ltd grew its position in BioXcel Therapeutics by 49.0% in the second quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after acquiring an additional 15,291 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of BioXcel Therapeutics during the fourth quarter valued at approximately $176,000. Finally, Vanguard Group Inc. lifted its position 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 worth $3,100,000 after purchasing an additional 9,912 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.