BioXcel Therapeutics (NASDAQ:BTAI) Announces Quarterly Earnings Results

BioXcel Therapeutics (NASDAQ:BTAI) issued its quarterly earnings data on Thursday. The company reported ($3.57) EPS for the quarter, topping analysts’ consensus estimates 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 Stock Down 6.3 %

Shares of NASDAQ BTAI traded down $0.15 during midday trading on Friday, hitting $2.17. The stock had a trading volume of 88,655 shares, compared to its average volume of 1,157,064. The stock has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $6.52. The company has a market capitalization of $6.94 million, a PE ratio of -0.06 and a beta of 0.89. BioXcel Therapeutics has a 1 year low of $1.72 and a 1 year high of $49.58.

Analyst Ratings Changes

A number of analysts recently issued reports on BTAI shares. 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 report on Tuesday, January 7th. Canaccord Genuity Group lowered their target price on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. HC Wainwright cut their price target on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. RODMAN&RENSHAW upgraded BioXcel Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 19th. Finally, 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 objective for the company. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.