BioXcel Therapeutics (NASDAQ:BTAI) Issues Quarterly Earnings Results, Beats Estimates By $0.79 EPS

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

BioXcel Therapeutics Stock Performance

Shares of BioXcel Therapeutics stock traded down $0.15 during trading on Friday, hitting $2.17. 88,655 shares of the company’s stock were exchanged, compared to its average volume of 1,157,064. BioXcel Therapeutics has a 52-week low of $1.72 and a 52-week high of $49.58. The stock has a market capitalization of $6.94 million, a price-to-earnings ratio of -0.06 and a beta of 0.89. The business has a 50-day simple moving average of $3.26 and a 200-day simple moving average of $6.52.

Analysts Set New Price Targets

Several equities analysts recently commented on BTAI shares. Rodman & Renshaw began coverage on shares of BioXcel Therapeutics in a research report on Wednesday, March 19th. They issued a “buy” rating and a $65.00 price objective for the company. RODMAN&RENSHAW upgraded shares of BioXcel Therapeutics to a “strong-buy” rating in a research note on Wednesday, March 19th. HC Wainwright lowered their price objective 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. Bank of America reissued an “underperform” rating and issued a $4.00 target price (down from $112.00) on shares of BioXcel Therapeutics in a research report on Tuesday, January 7th. Finally, Canaccord Genuity Group lowered their price target 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, BioXcel Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $42.60.

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.