BioXcel Therapeutics (NASDAQ:BTAI) Posts 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 the consensus estimate of ($4.36) by $0.79, Zacks reports. The business had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.72 million.

BioXcel Therapeutics Price Performance

Shares of BioXcel Therapeutics stock traded down $0.13 during trading hours on Friday, hitting $2.19. 72,883 shares of the company’s stock traded hands, compared to its average volume of 1,156,555. The company has a fifty day simple moving average of $3.26 and a 200-day simple moving average of $6.52. The stock has a market capitalization of $7.01 million, a price-to-earnings ratio of -0.06 and a beta of 0.89. BioXcel Therapeutics has a 12-month low of $1.72 and a 12-month high of $49.58.

Analyst Ratings Changes

BTAI has been the subject of several analyst reports. Canaccord Genuity Group lowered their price objective on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Rodman & Renshaw started coverage on BioXcel Therapeutics in a research report on Wednesday, March 19th. They issued a “buy” rating and a $65.00 price target for the company. RODMAN&RENSHAW raised shares of BioXcel Therapeutics to a “strong-buy” rating in a report on Wednesday, March 19th. HC Wainwright reduced their target price on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, Bank of America reissued an “underperform” rating and set a $4.00 price target (down from $112.00) on shares of BioXcel Therapeutics in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.