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

BioXcel Therapeutics (NASDAQ:BTAI) announced its quarterly earnings results 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 company had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.72 million.

BioXcel Therapeutics Stock Performance

Shares of BTAI stock traded down $0.14 during mid-day trading on Friday, reaching $2.17. 75,238 shares of the company were exchanged, compared to its average volume of 1,156,580. The business’s 50 day simple moving average is $3.26 and its 200 day simple moving average is $6.52. The company has a market capitalization of $6.96 million, a P/E ratio of -0.06 and a beta of 0.89. BioXcel Therapeutics has a fifty-two week low of $1.72 and a fifty-two week high of $49.58.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BTAI shares. Rodman & Renshaw began coverage on BioXcel Therapeutics in a research note on Wednesday, March 19th. They issued a “buy” rating and a $65.00 target price for the company. Bank of America reaffirmed an “underperform” rating and issued a $4.00 price objective (down previously from $112.00) on shares of BioXcel Therapeutics in a research report on Tuesday, January 7th. RODMAN&RENSHAW raised shares of BioXcel Therapeutics to a “strong-buy” rating in a research report on Wednesday, March 19th. HC Wainwright decreased their target price 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. Finally, Canaccord Genuity Group dropped their price target 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. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus 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.