Q1 2024 EPS Estimates for BioXcel Therapeutics, Inc. Lifted by HC Wainwright (NASDAQ:BTAI)

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) – HC Wainwright boosted their Q1 2024 earnings per share estimates for shares of BioXcel Therapeutics in a report released on Monday, April 15th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn ($0.69) per share for the quarter, up from their previous estimate of ($0.93). HC Wainwright currently has a “Buy” rating and a $11.00 target price on the stock. The consensus estimate for BioXcel Therapeutics’ current full-year earnings is ($2.28) per share. HC Wainwright also issued estimates for BioXcel Therapeutics’ Q2 2024 earnings at ($0.63) EPS, Q3 2024 earnings at ($0.59) EPS, Q4 2024 earnings at ($0.54) EPS and FY2024 earnings at ($2.42) EPS.

BioXcel Therapeutics (NASDAQ:BTAI) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.98) by $0.22. BioXcel Therapeutics had a negative return on equity of 890.63% and a negative net margin of 12,974.86%. The firm had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $1.17 million.

BTAI has been the topic of several other reports. Bank of America reduced their price objective on BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Canaccord Genuity Group dropped their target price on BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, March 14th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $4.00 target price (down from $9.00) on shares of BioXcel Therapeutics in a research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, BioXcel Therapeutics presently has a consensus rating of “Hold” and an average price target of $16.86.

BioXcel Therapeutics Price Performance

Shares of BTAI opened at $2.59 on Thursday. The business’s fifty day moving average price is $2.91 and its 200 day moving average price is $3.18. BioXcel Therapeutics has a 12-month low of $1.91 and a 12-month high of $29.56. The stock has a market capitalization of $79.20 million, a PE ratio of -0.42 and a beta of 0.40.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Swiss National Bank grew its holdings in BioXcel Therapeutics by 9.2% during the first quarter. Swiss National Bank now owns 46,300 shares of the company’s stock worth $968,000 after acquiring an additional 3,900 shares during the period. JPMorgan Chase & Co. grew its holdings in BioXcel Therapeutics by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 13,606 shares of the company’s stock worth $284,000 after acquiring an additional 1,870 shares during the period. Raymond James & Associates acquired a new position in BioXcel Therapeutics during the first quarter worth about $229,000. Bank of New York Mellon Corp grew its holdings in BioXcel Therapeutics by 2.9% during the first quarter. Bank of New York Mellon Corp now owns 58,386 shares of the company’s stock worth $1,220,000 after acquiring an additional 1,637 shares during the period. Finally, MetLife Investment Management LLC boosted its position in shares of BioXcel Therapeutics by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 9,853 shares of the company’s stock valued at $206,000 after purchasing an additional 3,577 shares during the period. 30.68% of the stock is owned by institutional investors and hedge funds.

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.