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

BioXcel Therapeutics (NASDAQ:BTAI) was upgraded by analysts at RODMAN&RENSHAW to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Canaccord Genuity Group decreased their price objective on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Rodman & Renshaw assumed coverage on BioXcel Therapeutics in a report on Wednesday. They set a “buy” rating and a $65.00 price objective on the stock. Bank of America reissued 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, HC Wainwright decreased their price objective on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.60.

BioXcel Therapeutics Stock Down 0.4 %

Shares of NASDAQ BTAI opened at $2.36 on Wednesday. BioXcel Therapeutics has a 12 month low of $1.72 and a 12 month high of $49.58. The company has a market cap of $7.57 million, a P/E ratio of -0.07 and a beta of 0.89. The business’s 50 day moving average is $3.61 and its two-hundred day moving average is $6.77.

Hedge Funds Weigh In On BioXcel Therapeutics

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