HC Wainwright Research Analysts Increase Earnings Estimates for BioXcel Therapeutics, Inc. (NASDAQ:BTAI)

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) – Stock analysts at HC Wainwright boosted their Q1 2024 earnings estimates for shares of BioXcel Therapeutics in a research note issued on Monday, April 15th. HC Wainwright analyst R. Selvaraju now anticipates that the company will earn ($0.69) per share for the quarter, up from their prior forecast of ($0.93). HC Wainwright has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for BioXcel Therapeutics’ current full-year earnings is ($2.46) 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.

BioXcel Therapeutics (NASDAQ:BTAI) last issued its quarterly 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 return on equity of 890.63% and a negative net margin of 12,974.86%. The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $1.17 million.

A number of other brokerages have also issued reports on BTAI. Bank of America lowered their target price on shares of BioXcel Therapeutics from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. UBS Group reissued a “neutral” rating and issued a $4.00 price objective (down from $9.00) on shares of BioXcel Therapeutics in a research report on Wednesday, February 21st. Finally, Canaccord Genuity Group dropped their target price on shares of BioXcel Therapeutics from $18.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $16.86.

BioXcel Therapeutics Stock Up 7.8 %

Shares of BioXcel Therapeutics stock opened at $2.75 on Thursday. The stock’s fifty day moving average is $2.90 and its two-hundred day moving average is $3.18. BioXcel Therapeutics has a 52 week low of $1.91 and a 52 week high of $29.56. The company has a market capitalization of $84.10 million, a PE ratio of -0.45 and a beta of 0.40.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BTAI. Tower Research Capital LLC TRC boosted its stake in shares of BioXcel Therapeutics by 205.2% during the first 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 in the last quarter. Apollon Wealth Management LLC bought a new stake in BioXcel Therapeutics during the 4th quarter valued at $31,000. Truist Financial Corp bought a new stake in BioXcel Therapeutics during the 4th quarter valued at $32,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of BioXcel Therapeutics by 411.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,740 shares of the company’s stock valued at $37,000 after acquiring an additional 1,400 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of BioXcel Therapeutics in the 2nd quarter valued at $50,000. Hedge funds and other institutional investors own 30.68% of the company’s stock.

About BioXcel Therapeutics

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.