BioXcel Therapeutics (NASDAQ:BTAI) Now Covered by Rodman & Renshaw

Stock analysts at Rodman & Renshaw initiated coverage on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a report issued on Wednesday,Benzinga reports. The firm set a “buy” rating and a $65.00 price target on the stock.

A number of other research firms also recently issued reports on BTAI. Canaccord Genuity Group dropped their target price on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, January 6th. 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 report on Tuesday, January 7th. Finally, HC Wainwright lowered their price objective on shares of BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.60.

BioXcel Therapeutics Price Performance

NASDAQ:BTAI traded up $0.22 on Wednesday, reaching $2.42. The stock had a trading volume of 1,300,885 shares, compared to its average volume of 1,143,074. The company has a market cap of $7.74 million, a price-to-earnings ratio of -0.07 and a beta of 0.89. The firm’s fifty day moving average is $3.76 and its two-hundred day moving average is $6.83. BioXcel Therapeutics has a 12-month low of $1.72 and a 12-month high of $49.58.

Hedge Funds Weigh In On BioXcel Therapeutics

Institutional investors have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its stake 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 purchasing an additional 48,336 shares in the last quarter. Northern Trust Corp boosted its position in 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 acquiring an additional 33,161 shares during the period. Wells Fargo & Company MN boosted its position in 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 acquiring an additional 13,952 shares during the period. Finally, Geode Capital Management LLC boosted its position in 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 acquiring an additional 13,922 shares during the period. Hedge funds and other 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.