HC Wainwright Issues Negative Outlook for BTAI Earnings

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) – Research analysts at HC Wainwright cut their Q3 2024 EPS estimates for shares of BioXcel Therapeutics in a research report issued to clients and investors on Monday, October 21st. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of ($0.55) for the quarter, down from their prior forecast of ($0.44). HC Wainwright has a “Buy” rating and a $5.00 price target on the stock. The consensus estimate for BioXcel Therapeutics’ current full-year earnings is ($1.84) per share. HC Wainwright also issued estimates for BioXcel Therapeutics’ Q4 2024 earnings at ($0.49) EPS, FY2024 earnings at ($2.03) EPS, Q1 2025 earnings at ($0.45) EPS, Q2 2025 earnings at ($0.45) EPS, Q3 2025 earnings at ($0.39) EPS, Q4 2025 earnings at ($0.28) EPS and FY2025 earnings at ($1.54) EPS.

BioXcel Therapeutics (NASDAQ:BTAI) last released its earnings results on Tuesday, August 6th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.55. The company had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.80 million. During the same quarter last year, the business earned ($1.83) earnings per share.

Several other research firms have also recently issued reports on BTAI. Canaccord Genuity Group reiterated a “buy” rating and issued a $7.00 target price on shares of BioXcel Therapeutics in a research note on Friday, August 30th. UBS Group cut their price target on shares of BioXcel Therapeutics from $3.50 to $1.00 and set a “neutral” rating for the company in a report on Friday, August 9th.

BioXcel Therapeutics Trading Up 3.6 %

Shares of NASDAQ BTAI opened at $0.60 on Wednesday. BioXcel Therapeutics has a 12 month low of $0.51 and a 12 month high of $5.62. The company has a 50 day simple moving average of $0.59 and a two-hundred day simple moving average of $1.30. The stock has a market cap of $22.52 million, a price-to-earnings ratio of -0.12 and a beta of 0.28.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of large investors have recently modified their holdings of the business. Armistice Capital LLC grew its holdings in shares of BioXcel Therapeutics by 705.2% in the second quarter. Armistice Capital LLC now owns 2,987,000 shares of the company’s stock valued at $3,823,000 after purchasing an additional 2,616,027 shares during the period. Vanguard Group Inc. lifted its position in shares of BioXcel Therapeutics by 0.9% during the first quarter. Vanguard Group Inc. now owns 1,099,375 shares of the company’s stock worth $3,100,000 after purchasing an additional 9,912 shares in the last quarter. XTX Topco Ltd raised its holdings in shares of BioXcel Therapeutics by 49.0% in the 2nd quarter. XTX Topco Ltd now owns 46,503 shares of the company’s stock valued at $60,000 after purchasing an additional 15,291 shares in the last quarter. Rosalind Advisors Inc. acquired a new stake in BioXcel Therapeutics in the second quarter valued at $51,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of BioXcel Therapeutics during the 2nd quarter worth about $39,000. Hedge funds and other 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.