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

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

Shares of NASDAQ:BTAI opened at $5.90 on Friday. BioXcel Therapeutics has a 52-week low of $5.00 and a 52-week high of $14.79.

A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC bought a new stake in BioXcel Therapeutics during the 1st quarter valued at $316,000. Artemis Investment Management LLP boosted its position in BioXcel Therapeutics by 1.3% during the 3rd 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 in the last quarter. BlackRock Inc. bought a new stake in BioXcel Therapeutics during the 2nd quarter valued at $137,000. Creative Planning bought a new stake in BioXcel Therapeutics during the 3rd quarter valued at $102,000. Finally, Point72 Asset Management L.P. boosted its position in BioXcel Therapeutics by 10.7% during the 2nd 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 in the last quarter. 23.90% of the stock is currently owned by institutional investors.

Several brokerages recently issued reports on BTAI. Zacks Investment Research cut BioXcel Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Canaccord Genuity reissued a “buy” rating and issued a $21.00 price objective on shares of BioXcel Therapeutics in a research note on Friday, August 10th. Finally, HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of BioXcel Therapeutics in a research note on Wednesday, August 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. BioXcel Therapeutics presently has an average rating of “Buy” and a consensus price target of $18.67.

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About BioXcel Therapeutics

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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