BioXcel Therapeutics, Inc. Forecasted to Post FY2023 Earnings of ($6.63) Per Share (NASDAQ:BTAI)

BioXcel Therapeutics, Inc. (NASDAQ:BTAI) – Stock analysts at HC Wainwright reduced their FY2023 earnings per share (EPS) estimates for shares of BioXcel Therapeutics in a report issued on Wednesday, November 15th. HC Wainwright analyst R. Selvaraju now forecasts that the company will post earnings per share of ($6.63) for the year, down from their prior forecast of ($5.87). 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 ($5.83) per share. HC Wainwright also issued estimates for BioXcel Therapeutics’ Q4 2023 earnings at ($1.23) EPS, Q1 2024 earnings at ($1.04) EPS, Q2 2024 earnings at ($0.78) EPS, Q3 2024 earnings at ($0.60) EPS, Q4 2024 earnings at ($0.55) EPS and FY2024 earnings at ($2.83) EPS.

Several other analysts also recently commented on the company. Canaccord Genuity Group cut their target price on BioXcel Therapeutics from $75.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, August 15th. Mizuho reiterated a “neutral” rating on shares of BioXcel Therapeutics in a research note on Wednesday, August 23rd. Finally, Truist Financial downgraded BioXcel Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.88.

BioXcel Therapeutics Stock Down 2.8 %

BTAI stock opened at $4.13 on Friday. The business has a 50 day moving average of $3.37 and a 200 day moving average of $10.19. The company has a quick ratio of 3.92, a current ratio of 2.51 and a debt-to-equity ratio of 16.52. BioXcel Therapeutics has a twelve month low of $2.23 and a twelve month high of $34.13. The firm has a market cap of $120.89 million, a PE ratio of -0.56 and a beta of 0.86.

Hedge Funds Weigh In On BioXcel Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of BTAI. Tower Research Capital LLC TRC lifted its position in 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. Northwestern Mutual Wealth Management Co. raised its holdings in BioXcel Therapeutics by 411.8% during the fourth 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. Point72 Hong Kong Ltd bought a new stake in BioXcel Therapeutics during the second quarter valued at about $50,000. Quantbot Technologies LP bought a new stake in BioXcel Therapeutics during the first quarter valued at about $79,000. Finally, Barclays PLC raised its holdings in BioXcel Therapeutics by 533.3% during the fourth quarter. Barclays PLC now owns 5,136 shares of the company’s stock valued at $111,000 after acquiring an additional 4,325 shares during the period. 90.86% of the stock is currently owned by hedge funds and other institutional investors.

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.