Equities Analysts Set Expectations for BTAI Q3 Earnings

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) – Equities researchers at HC Wainwright lowered their Q3 2024 earnings estimates for shares of BioXcel Therapeutics in a report issued on Monday, October 21st. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of ($0.55) for the quarter, down from their previous forecast of ($0.44). HC Wainwright has a “Buy” rating and a $5.00 price target on the stock. The consensus estimate for BioXcel Therapeutics’ current full-year earnings is ($1.84) per share. HC Wainwright also issued estimates for BioXcel Therapeutics’ Q4 2024 earnings at ($0.49) EPS, FY2024 earnings at ($2.03) EPS, Q1 2025 earnings at ($0.45) EPS, Q2 2025 earnings at ($0.45) EPS, Q3 2025 earnings at ($0.39) EPS, Q4 2025 earnings at ($0.28) EPS and FY2025 earnings at ($1.54) EPS.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.55. The business had revenue of $1.10 million during the quarter, compared to the consensus estimate of $0.80 million. During the same period last year, the company earned ($1.83) earnings per share.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group restated a “buy” rating and set a $7.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, August 30th. UBS Group dropped their price target on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th.

BioXcel Therapeutics Stock Performance

NASDAQ:BTAI opened at $0.58 on Wednesday. BioXcel Therapeutics has a 1 year low of $0.51 and a 1 year high of $5.62. The stock has a market cap of $21.75 million, a price-to-earnings ratio of -0.11 and a beta of 0.28. The business has a fifty day moving average of $0.60 and a 200-day moving average of $1.31.

Institutional Investors Weigh In On BioXcel Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of BioXcel Therapeutics by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock valued at $3,100,000 after buying an additional 9,912 shares in the last quarter. Rosalind Advisors Inc. purchased a new position in BioXcel Therapeutics in the 2nd quarter worth about $51,000. XTX Topco Ltd raised its holdings in BioXcel Therapeutics by 49.0% during the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock worth $60,000 after buying an additional 15,291 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in BioXcel Therapeutics during the second quarter valued at about $39,000. Finally, Armistice Capital LLC boosted its holdings in shares of BioXcel Therapeutics by 705.2% in the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock worth $3,823,000 after buying an additional 2,616,027 shares during the period. 30.68% of the stock is currently owned by 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.