BioXcel Therapeutics (NASDAQ:BTAI) Raised to Strong-Buy at RODMAN&RENSHAW

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

BTAI has been the subject of several other reports. Canaccord Genuity Group decreased their price objective on shares of BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating for the company in a report on Monday, January 6th. Rodman & Renshaw started coverage on shares of BioXcel Therapeutics in a research note on Wednesday. They set a “buy” rating and a $65.00 target price for the company. Bank of America reissued an “underperform” rating and set a $4.00 target price (down from $112.00) on shares of BioXcel Therapeutics in a research note on Tuesday, January 7th. Finally, HC Wainwright cut 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, BioXcel Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $42.60.

BioXcel Therapeutics Price Performance

BioXcel Therapeutics stock opened at $2.36 on Wednesday. The firm has a 50 day simple moving average of $3.61 and a 200-day simple moving average of $6.77. The stock has a market capitalization of $7.57 million, a PE ratio of -0.07 and a beta of 0.89. BioXcel Therapeutics has a 12-month low of $1.72 and a 12-month high of $49.58.

Institutional Investors Weigh In On BioXcel Therapeutics

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position 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 valued at $117,000 after acquiring an additional 13,922 shares in the last quarter. Wells Fargo & Company MN lifted its position 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 valued at $74,000 after acquiring an additional 13,952 shares in the last quarter. Northern Trust Corp lifted its position 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 valued at $28,000 after acquiring an additional 33,161 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its position 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 valued at $27,000 after acquiring an additional 48,336 shares in the last quarter. 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.