BioXcel Therapeutics (NASDAQ:BTAI) Announces Earnings Results, Beats Expectations By $0.79 EPS

BioXcel Therapeutics (NASDAQ:BTAI) announced its quarterly earnings results on Thursday. The company reported ($3.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.36) by $0.79, Zacks reports. The business had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.72 million.

BioXcel Therapeutics Stock Down 8.2 %

BTAI stock opened at $2.12 on Friday. The stock’s 50 day moving average is $3.19 and its two-hundred day moving average is $6.47. BioXcel Therapeutics has a 52-week low of $1.72 and a 52-week high of $49.58. The company has a market capitalization of $6.80 million, a PE ratio of -0.06 and a beta of 0.89.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BTAI shares. Bank of America reissued an “underperform” rating and issued a $4.00 target price (down previously from $112.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. Rodman & Renshaw assumed coverage on BioXcel Therapeutics in a research report on Wednesday, March 19th. They issued a “buy” rating and a $65.00 price objective on the stock. Canaccord Genuity Group decreased their target price on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, January 6th. HC Wainwright dropped their target price on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, RODMAN&RENSHAW upgraded BioXcel Therapeutics to a “strong-buy” rating in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.60.

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.