BioXcel Therapeutics (BTAI) Announces Earnings Results, Misses Expectations By $0.05 EPS

BioXcel Therapeutics (NASDAQ:BTAI) posted its quarterly earnings data on Friday. The company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.05), MarketWatch Earnings reports.

BTAI traded down $0.15 during trading on Friday, reaching $5.90. 82,078 shares of the stock traded hands, compared to its average volume of 27,947. BioXcel Therapeutics has a 12 month low of $5.00 and a 12 month high of $14.79.

A number of institutional investors and hedge funds have recently modified their holdings of BTAI. Creative Planning bought a new stake in BioXcel Therapeutics during the third quarter valued at $102,000. BlackRock Inc. bought a new stake in BioXcel Therapeutics during the second quarter valued at $137,000. Millennium Management LLC bought a new stake in BioXcel Therapeutics during the first quarter valued at $316,000. Point72 Asset Management L.P. boosted its position in BioXcel Therapeutics by 10.7% during the second quarter. Point72 Asset Management L.P. now owns 65,809 shares of the company’s stock valued at $605,000 after acquiring an additional 6,358 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its position in BioXcel Therapeutics by 1.3% during the third quarter. Artemis Investment Management LLP now owns 1,254,853 shares of the company’s stock valued at $9,700,000 after acquiring an additional 16,358 shares during the last quarter. 23.90% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on BTAI. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of BioXcel Therapeutics in a research report on Wednesday, August 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $21.00 price target on shares of BioXcel Therapeutics in a research report on Friday, August 10th. Finally, Zacks Investment Research cut shares of BioXcel Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. BioXcel Therapeutics presently has an average rating of “Buy” and an average target price of $18.67.

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BioXcel Therapeutics Company Profile

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, focuses on novel artificial intelligence-based drug development in the fields of neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of dexmedetomidine designed for acute treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immuno-oncology agent designed for the treatment of prostate and pancreatic cancers.

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