BioXcel Therapeutics (NASDAQ:BTAI) Issues Earnings Results, Misses Estimates By $0.19 EPS

BioXcel Therapeutics (NASDAQ:BTAI) announced its quarterly earnings results on Thursday. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.19), Zacks reports. The business had revenue of $0.58 million during the quarter, compared to analyst estimates of $0.42 million. BioXcel Therapeutics had a negative net margin of 12,974.86% and a negative return on equity of 890.63%. During the same quarter last year, the company posted ($1.84) earnings per share.

BioXcel Therapeutics Stock Down 9.3 %

Shares of NASDAQ BTAI traded down $0.22 on Friday, reaching $2.09. 695,378 shares of the company’s stock traded hands, compared to its average volume of 1,203,329. The business’s 50 day simple moving average is $2.74 and its two-hundred day simple moving average is $3.15. The company has a market cap of $77.40 million, a price-to-earnings ratio of -0.35 and a beta of 0.43. BioXcel Therapeutics has a 12 month low of $1.91 and a 12 month high of $28.94.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BTAI shares. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of BioXcel Therapeutics in a report on Friday. Bank of America dropped their price target on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. UBS Group reaffirmed a “neutral” rating and issued a $4.00 price target (down from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group dropped their price objective on BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, BioXcel Therapeutics has an average rating of “Hold” and an average target price of $16.71.

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.