BioXcel Therapeutics (NASDAQ:BTAI) Announces Quarterly Earnings Results

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

BioXcel Therapeutics Price Performance

Shares of BTAI traded down $0.14 during trading hours on Friday, reaching $2.17. 75,238 shares of the company’s stock traded hands, compared to its average volume of 1,156,580. BioXcel Therapeutics has a twelve month low of $1.72 and a twelve month high of $49.58. The business’s fifty day simple moving average is $3.26 and its two-hundred day simple moving average is $6.52. The firm has a market capitalization of $6.96 million, a price-to-earnings ratio of -0.06 and a beta of 0.89.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BTAI. RODMAN&RENSHAW raised BioXcel Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 19th. Bank of America reissued an “underperform” rating and set a $4.00 target price (down from $112.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. HC Wainwright reduced their price target on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Rodman & Renshaw began coverage on shares of BioXcel Therapeutics in a research report on Wednesday, March 19th. They set a “buy” rating and a $65.00 price objective for the company. Finally, Canaccord Genuity Group cut their price target on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, January 6th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.