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

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

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

BioXcel Therapeutics Trading Down 0.4 %

BioXcel Therapeutics stock 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 stock’s 50 day simple moving average is $3.61 and its two-hundred day simple moving average is $6.77. The firm has a market cap of $7.57 million, a PE ratio of -0.07 and a beta of 0.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BTAI. Squarepoint Ops LLC lifted its holdings in 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 purchasing an additional 48,336 shares in the last quarter. Northern Trust Corp lifted its holdings in 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 purchasing an additional 33,161 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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 purchasing an additional 13,922 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.