BioXcel Therapeutics (NASDAQ:BTAI) Releases Quarterly Earnings Results, Meets Estimates

BioXcel Therapeutics (NASDAQ:BTAI) posted its earnings results on Friday. The company reported ($0.58) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.58), Zacks reports. The company had revenue of $0.26 million during the quarter, compared to analysts’ expectations of $0.15 million.

BioXcel Therapeutics Stock Down 8.0%

Shares of NASDAQ:BTAI opened at $1.26 on Friday. The company has a market cap of $27.56 million, a P/E ratio of -0.19 and a beta of 0.18. The business has a fifty day simple moving average of $1.60 and a 200-day simple moving average of $1.97. BioXcel Therapeutics has a 52 week low of $1.17 and a 52 week high of $8.08.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BTAI. Zacks Research raised BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Rodman & Renshaw assumed coverage on shares of BioXcel Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating and a $17.00 target price for the company. HC Wainwright reduced their target price on shares of BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of BioXcel Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.50.

Institutional Trading of BioXcel Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Diversify Wealth Management LLC purchased a new stake in BioXcel Therapeutics in the 2nd quarter valued at about $27,000. HRT Financial LP acquired a new position in shares of BioXcel Therapeutics in the 4th quarter valued at about $28,000. XTX Topco Ltd purchased a new stake in shares of BioXcel Therapeutics during the 2nd quarter worth about $42,000. Goldman Sachs Group Inc. purchased a new position in BioXcel Therapeutics in the first quarter valued at approximately $50,000. Finally, Geode Capital Management LLC lifted 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 valued at $51,000 after buying an additional 6,120 shares in the last quarter. 30.68% of the stock is owned by institutional investors and hedge funds.

BioXcel Therapeutics Company Profile

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.