BioXcel Therapeutics (NASDAQ:BTAI) Upgraded by RODMAN&RENSHAW to Strong-Buy Rating

RODMAN&RENSHAW upgraded shares of BioXcel Therapeutics (NASDAQ:BTAI) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group cut their price objective on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, January 6th. HC Wainwright cut their price objective on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Bank of America restated an “underperform” rating and set a $4.00 price objective (down previously from $112.00) on shares of BioXcel Therapeutics in a report on Tuesday, January 7th. Finally, Rodman & Renshaw assumed coverage on shares of BioXcel Therapeutics in a report on Wednesday. They set a “buy” rating and a $65.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, BioXcel Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $42.60.

BioXcel Therapeutics Stock Performance

Shares of BioXcel Therapeutics stock opened at $2.36 on Wednesday. BioXcel Therapeutics has a one year low of $1.72 and a one year high of $49.58. The company has a market capitalization of $7.57 million, a PE ratio of -0.07 and a beta of 0.89. The company has a 50-day simple moving average of $3.61 and a two-hundred day simple moving average of $6.77.

Hedge Funds Weigh In On BioXcel Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC increased its holdings in BioXcel Therapeutics by 203.9% in the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after buying an additional 48,336 shares during the period. Northern Trust Corp boosted its position in BioXcel Therapeutics by 81.4% in the 4th quarter. Northern Trust Corp now owns 73,910 shares of the company’s stock worth $28,000 after purchasing an additional 33,161 shares in the last quarter. Wells Fargo & Company MN boosted its position in BioXcel Therapeutics by 7.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,010 shares of the company’s stock worth $74,000 after purchasing an additional 13,952 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in BioXcel Therapeutics by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock worth $117,000 after purchasing an additional 13,922 shares in the last quarter. Institutional investors and hedge funds own 30.68% of the company’s stock.

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.