BioXcel Therapeutics (NASDAQ:BTAI) Given New $3.00 Price Target at HC Wainwright

BioXcel Therapeutics (NASDAQ:BTAI) had its price target dropped by investment analysts at HC Wainwright from $5.00 to $3.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Other equities analysts also recently issued reports about the company. Bank of America reaffirmed an “underperform” rating and issued a $0.25 target price (down from $7.00) on shares of BioXcel Therapeutics in a research report on Tuesday, January 7th. Canaccord Genuity Group cut their target price on shares of BioXcel Therapeutics from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, January 6th.

BioXcel Therapeutics Stock Up 1.0 %

BTAI opened at $0.33 on Thursday. BioXcel Therapeutics has a 52 week low of $0.30 and a 52 week high of $4.17. The business has a fifty day simple moving average of $0.39 and a 200-day simple moving average of $0.60. The firm has a market cap of $16.18 million, a P/E ratio of -0.15 and a beta of -0.01.

Hedge Funds Weigh In On BioXcel Therapeutics

An institutional investor recently bought a new position in BioXcel Therapeutics stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in BioXcel Therapeutics, Inc. (NASDAQ:BTAI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 30,295 shares of the company’s stock, valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. owned about 0.08% of BioXcel Therapeutics as of its most recent SEC filing. 30.68% of the stock is currently owned by hedge funds and other 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.