Rodman & Renshaw Initiates Coverage on BioXcel Therapeutics (NASDAQ:BTAI)

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

Other equities analysts have also recently issued reports about the stock. Bank of America restated an “underperform” rating and issued a $4.00 price target (down from $112.00) on shares of BioXcel Therapeutics in a research report on Tuesday, January 7th. HC Wainwright decreased their price objective on BioXcel Therapeutics from $80.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, Canaccord Genuity Group cut their target price on BioXcel Therapeutics from $112.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.60.

BioXcel Therapeutics Price Performance

BioXcel Therapeutics stock opened at $2.37 on Wednesday. The business has a 50 day moving average of $3.69 and a 200-day moving average of $6.80. The company has a market capitalization of $7.60 million, a P/E ratio of -0.07 and a beta of 0.89. BioXcel Therapeutics has a 1 year low of $1.72 and a 1 year high of $49.58.

Institutional Investors Weigh In On BioXcel Therapeutics

Several large investors have recently modified their holdings of the company. Squarepoint Ops LLC boosted its position in BioXcel Therapeutics by 203.9% during the fourth 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 during the last quarter. Northern Trust Corp raised 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 worth $28,000 after acquiring an additional 33,161 shares in the last quarter. Wells Fargo & Company MN lifted its stake 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 purchasing 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 4th quarter. Geode Capital Management LLC now owns 311,965 shares of the company’s stock valued at $117,000 after purchasing an additional 13,922 shares in 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.