BioXcel Therapeutics (NASDAQ:BTAI) Earns Buy Rating from Analysts at Rodman & Renshaw

Rodman & Renshaw began coverage on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage issued a buy rating and a $65.00 price target on the stock.

A number of other analysts have also weighed in on the company. Canaccord Genuity Group cut their price objective on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Bank of America reaffirmed an “underperform” rating and set a $4.00 price objective (down previously from $112.00) on shares of BioXcel Therapeutics in a research report on Tuesday, January 7th. Finally, HC Wainwright lowered their target price on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.60.

BioXcel Therapeutics Stock Down 1.3 %

Shares of NASDAQ BTAI opened at $2.33 on Wednesday. The firm has a market cap of $7.47 million, a price-to-earnings ratio of -0.07 and a beta of 0.89. BioXcel Therapeutics has a 52-week low of $1.72 and a 52-week high of $49.58. The business’s 50 day moving average is $3.54 and its two-hundred day moving average is $6.72.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC raised its position in shares of BioXcel Therapeutics by 203.9% during the 4th quarter. Squarepoint Ops LLC now owns 72,046 shares of the company’s stock worth $27,000 after purchasing an additional 48,336 shares during the last quarter. Northern Trust Corp raised its position in shares of BioXcel Therapeutics by 81.4% during 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 during the last quarter. Wells Fargo & Company MN raised its position in shares of BioXcel Therapeutics by 7.5% during 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 during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of BioXcel Therapeutics by 4.7% during 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 during the last quarter. 30.68% of the stock is currently owned by institutional investors and hedge funds.

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.