BioXcel Therapeutics (NASDAQ:BTAI) Posts Quarterly Earnings Results, Beats Expectations By $0.55 EPS

BioXcel Therapeutics (NASDAQ:BTAI) announced its quarterly earnings data on Tuesday. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.55, Yahoo Finance reports. The firm had revenue of $1.10 million for the quarter, compared to the consensus estimate of $0.80 million. During the same quarter last year, the business earned ($1.83) earnings per share.

BioXcel Therapeutics Price Performance

Shares of BTAI stock traded down $0.05 during trading hours on Wednesday, reaching $0.91. The stock had a trading volume of 211,409 shares, compared to its average volume of 980,434. The firm has a market capitalization of $34.20 million, a PE ratio of -0.18 and a beta of 0.32. The firm has a 50-day simple moving average of $1.25 and a 200-day simple moving average of $2.23. BioXcel Therapeutics has a twelve month low of $0.89 and a twelve month high of $7.80.

Insider Buying and Selling at BioXcel Therapeutics

In other BioXcel Therapeutics news, CEO Vimal Mehta sold 126,014 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $1.63, for a total value of $205,402.82. Following the sale, the chief executive officer now owns 7,811,515 shares in the company, valued at $12,732,769.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 128,520 shares of company stock valued at $208,611 in the last ninety days. Company insiders own 35.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $7.00 price target on shares of BioXcel Therapeutics in a research report on Thursday, June 27th. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of BioXcel Therapeutics in a report on Friday, May 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.80.

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.