BioXcel Therapeutics, Inc. to Post FY2023 Earnings of ($4.81) Per Share, Truist Financial Forecasts (NASDAQ:BTAI)

BioXcel Therapeutics, Inc. (NASDAQ:BTAI – Get Rating) – Truist Financial dropped their FY2023 earnings per share estimates for shares of BioXcel Therapeutics in a note issued to investors on Wednesday, April 6th. Truist Financial analyst R. Karnauskas now anticipates that the company will post earnings of ($4.81) per share for the year, down from their prior estimate of $1.42. Truist Financial also issued estimates for BioXcel Therapeutics’ FY2024 earnings at ($0.18) EPS, FY2025 earnings at $5.27 EPS and FY2026 earnings at $9.67 EPS.

BioXcel Therapeutics (NASDAQ:BTAI – Get Rating) last posted its earnings results on Thursday, March 10th. The company reported ($0.93) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.18) by $0.25. During the same quarter last year, the firm posted ($0.87) EPS.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group dropped their price target on BioXcel Therapeutics from $95.00 to $81.00 in a report on Friday, March 11th. UBS Group decreased their target price on shares of BioXcel Therapeutics from $88.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, February 16th. HC Wainwright dropped their price target on shares of BioXcel Therapeutics from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Monday, March 14th. Finally, Bank of America increased their price target on BioXcel Therapeutics from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, April 6th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $76.43.

Shares of NASDAQ:BTAI opened at $15.75 on Monday. BioXcel Therapeutics has a 12-month low of $14.32 and a 12-month high of $39.00. The business has a 50 day moving average of $18.02 and a 200-day moving average of $22.41. The stock has a market cap of $440.69 million, a PE ratio of -3.86 and a beta of 1.05.

Several institutional investors and hedge funds have recently bought and sold shares of the company. AlphaCentric Advisors LLC acquired a new position in BioXcel Therapeutics during the 4th quarter worth approximately $1,017,000. Barclays PLC grew its stake in shares of BioXcel Therapeutics by 102.4% during the fourth quarter. Barclays PLC now owns 20,929 shares of the company’s stock worth $426,000 after buying an additional 10,588 shares during the last quarter. BlackRock Inc. increased its holdings in shares of BioXcel Therapeutics by 6.0% during the fourth quarter. BlackRock Inc. now owns 1,289,654 shares of the company’s stock worth $26,218,000 after buying an additional 72,917 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of BioXcel Therapeutics by 100.8% in the 4th quarter. Wells Fargo & Company MN now owns 19,704 shares of the company’s stock valued at $400,000 after acquiring an additional 9,889 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of BioXcel Therapeutics by 38.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 49,734 shares of the company’s stock valued at $1,011,000 after acquiring an additional 13,765 shares in the last quarter. Institutional investors own 45.69% of the company’s stock.

About BioXcel Therapeutics (Get Rating)

BioXcel Therapeutics, Inc, a clinical stage biopharmaceutical company, utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology in the United States. The company is involved in developing BXCL501, a sublingual thin film formulation of adrenergic receptor agonist dexmedetomidine for the treatment of agitation resulting from neurological and psychiatric disorders; and BXCL701, an immune activator for the treatment of prostate and pancreatic cancers, and solid tumors.

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