BioXcel Therapeutics (NASDAQ:BTAI) Announces Earnings Results, Beats Estimates By $1.23 EPS

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

BioXcel Therapeutics Stock Down 8.0%

NASDAQ BTAI traded down $0.11 during trading hours on Friday, hitting $1.26. The company had a trading volume of 960,816 shares, compared to its average volume of 1,408,032. BioXcel Therapeutics has a fifty-two week low of $1.17 and a fifty-two week high of $8.08. The business has a fifty day simple moving average of $1.62 and a 200-day simple moving average of $2.01. The firm has a market cap of $27.55 million, a P/E ratio of -0.13 and a beta of 0.18.

Hedge Funds Weigh In On BioXcel Therapeutics

Several institutional investors have recently modified their holdings of BTAI. Goldman Sachs Group Inc. bought a new stake in BioXcel Therapeutics in the 1st quarter valued at about $50,000. Geode Capital Management LLC grew its position in BioXcel Therapeutics by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after purchasing an additional 6,120 shares during the last quarter. XTX Topco Ltd bought a new position in BioXcel Therapeutics in the 2nd quarter worth about $42,000. Diversify Wealth Management LLC acquired a new stake in shares of BioXcel Therapeutics in the second quarter valued at approximately $27,000. Finally, Millennium Management LLC acquired a new stake in shares of BioXcel Therapeutics in the third quarter valued at approximately $2,632,000. Institutional investors own 30.68% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. HC Wainwright dropped 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 restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research report on Wednesday, January 21st. Finally, Rodman & Renshaw began coverage on shares of BioXcel Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating and a $17.00 price objective for the company. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, BioXcel Therapeutics presently has an average rating of “Hold” and an average target price of $11.50.

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.