BioXcel Therapeutics (NASDAQ:BTAI) Upgraded at RODMAN&RENSHAW

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

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

BioXcel Therapeutics Trading Down 1.3 %

NASDAQ BTAI opened at $2.33 on Wednesday. The stock’s 50 day moving average is $3.54 and its 200 day moving average is $6.72. BioXcel Therapeutics has a 12 month low of $1.72 and a 12 month high of $49.58. The stock has a market cap of $7.47 million, a PE ratio of -0.07 and a beta of 0.89.

Hedge Funds Weigh In On BioXcel Therapeutics

Several hedge funds have recently bought and sold shares of BTAI. Squarepoint Ops LLC lifted its holdings in shares of 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 lifted its holdings in shares of 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 buying an additional 33,161 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of 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 buying an additional 13,952 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 13,922 shares during the period. Institutional investors 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.