BioXcel Therapeutics (NASDAQ:BTAI) Releases Earnings Results, Beats Expectations By $1.23 EPS

BioXcel Therapeutics (NASDAQ:BTAI) released its quarterly earnings data on Friday. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $1.23, FiscalAI reports.

BioXcel Therapeutics Stock Down 8.0%

BTAI traded down $0.11 during trading on Friday, hitting $1.26. 960,816 shares of the stock were exchanged, compared to its average volume of 1,408,032. BioXcel Therapeutics has a 1-year low of $1.17 and a 1-year high of $8.08. The stock has a fifty day moving average price of $1.62 and a two-hundred day moving average price of $2.01. The firm has a market capitalization of $27.55 million, a P/E ratio of -0.13 and a beta of 0.18.

Wall Street Analysts Forecast Growth

BTAI has been the topic of a number of analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. HC Wainwright dropped their price objective on BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Rodman & Renshaw assumed coverage on BioXcel Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating and a $17.00 price target for the company. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BioXcel Therapeutics presently has an average rating of “Hold” and a consensus target price of $11.50.

Institutional Trading of BioXcel Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Diversify Wealth Management LLC purchased a new stake in shares of BioXcel Therapeutics during the 2nd quarter worth $27,000. HRT Financial LP acquired a new stake in shares of BioXcel Therapeutics in the fourth quarter valued at about $28,000. XTX Topco Ltd purchased a new stake in BioXcel Therapeutics during the second quarter worth about $42,000. Goldman Sachs Group Inc. purchased a new stake in BioXcel Therapeutics during the first quarter worth about $50,000. Finally, Geode Capital Management LLC grew its position in BioXcel Therapeutics by 27.7% during the second quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after buying an additional 6,120 shares during the period. Hedge funds and other institutional investors own 30.68% of the company’s stock.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.