BioXcel Therapeutics (NASDAQ:BTAI) Posts Earnings Results, Beats Estimates By $0.79 EPS

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

BioXcel Therapeutics Stock Performance

NASDAQ BTAI traded down $0.13 on Friday, hitting $2.19. The stock had a trading volume of 72,883 shares, compared to its average volume of 1,156,555. The firm has a 50-day moving average of $3.26 and a 200-day moving average of $6.52. BioXcel Therapeutics has a 52-week low of $1.72 and a 52-week high of $49.58. The company has a market capitalization of $7.01 million, a price-to-earnings ratio of -0.06 and a beta of 0.89.

Analyst Upgrades and Downgrades

Several research firms have commented on BTAI. RODMAN&RENSHAW raised shares of BioXcel Therapeutics to a “strong-buy” rating in a report on Wednesday, March 19th. 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. Bank of America reiterated an “underperform” rating and issued a $4.00 price objective (down from $112.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. HC Wainwright dropped their target price on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Finally, Rodman & Renshaw began coverage on BioXcel Therapeutics in a report on Wednesday, March 19th. They issued a “buy” rating and a $65.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.