Q1 2024 EPS Estimates for BioXcel Therapeutics, Inc. Lifted by HC Wainwright (NASDAQ:BTAI)

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) – Investment analysts at HC Wainwright boosted their Q1 2024 earnings estimates for shares of BioXcel Therapeutics in a research report issued to clients and investors on Monday, April 15th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings of ($0.69) per share for the quarter, up from their previous forecast of ($0.93). HC Wainwright has a “Buy” rating and a $11.00 price objective on the stock. The consensus estimate for BioXcel Therapeutics’ current full-year earnings is ($2.28) per share. HC Wainwright also issued estimates for BioXcel Therapeutics’ Q2 2024 earnings at ($0.63) EPS, Q3 2024 earnings at ($0.59) EPS, Q4 2024 earnings at ($0.54) EPS and FY2024 earnings at ($2.42) EPS.

Several other equities research analysts have also weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. UBS Group reaffirmed a “neutral” rating and issued a $4.00 target price (down previously from $9.00) on shares of BioXcel Therapeutics in a report on Wednesday, February 21st. Finally, Bank of America decreased their price objective on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.86.

BioXcel Therapeutics Stock Performance

BTAI opened at $2.59 on Thursday. The firm’s 50-day simple moving average is $2.91 and its 200-day simple moving average is $3.18. BioXcel Therapeutics has a twelve month low of $1.91 and a twelve month high of $29.56. The firm has a market cap of $79.20 million, a price-to-earnings ratio of -0.42 and a beta of 0.40.

BioXcel Therapeutics (NASDAQ:BTAI) last posted its earnings results on Tuesday, March 12th. The company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.98) by $0.22. BioXcel Therapeutics had a negative net margin of 12,974.86% and a negative return on equity of 890.63%. The business had revenue of $0.38 million for the quarter, compared to analyst estimates of $1.17 million.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of hedge funds have recently added to or reduced their stakes in BTAI. Tower Research Capital LLC TRC lifted its position in BioXcel Therapeutics by 205.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,529 shares of the company’s stock valued at $29,000 after purchasing an additional 1,028 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in BioXcel Therapeutics by 411.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,740 shares of the company’s stock valued at $37,000 after purchasing an additional 1,400 shares during the period. Point72 Hong Kong Ltd acquired a new position in BioXcel Therapeutics during the 2nd quarter valued at about $50,000. Quantbot Technologies LP acquired a new position in BioXcel Therapeutics during the 1st quarter valued at about $79,000. Finally, Barclays PLC lifted its position in BioXcel Therapeutics by 533.3% during the 4th quarter. Barclays PLC now owns 5,136 shares of the company’s stock valued at $111,000 after purchasing an additional 4,325 shares during the period. Institutional investors own 30.68% of the company’s stock.

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.