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

Rodman & Renshaw started coverage on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a research report released on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $17.00 target price on the stock.

A number of other analysts have also weighed in on BTAI. HC Wainwright cut their price objective on BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. Finally, Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, BioXcel Therapeutics has a consensus rating of “Hold” and a consensus price target of $11.50.

BioXcel Therapeutics Trading Up 12.3%

Shares of NASDAQ BTAI opened at $1.73 on Tuesday. The stock has a market capitalization of $37.83 million, a PE ratio of -0.18 and a beta of 0.18. BioXcel Therapeutics has a twelve month low of $1.17 and a twelve month high of $8.08. The stock has a fifty day simple moving average of $1.69 and a 200-day simple moving average of $2.09.

Institutional Investors Weigh In On BioXcel Therapeutics

A number of institutional investors have recently modified their holdings of BTAI. Oaktree Capital Management LP acquired a new stake in shares of BioXcel Therapeutics in the 2nd quarter worth about $437,000. Oaktree Fund Advisors LLC acquired a new position in BioXcel Therapeutics during the 2nd quarter valued at about $78,000. Millennium Management LLC bought a new position in BioXcel Therapeutics in the 3rd quarter worth about $2,632,000. Jane Street Group LLC acquired a new stake in shares of BioXcel Therapeutics in the fourth quarter valued at approximately $204,000. Finally, State Street Corp increased its stake in shares of BioXcel Therapeutics by 19.9% in the fourth quarter. State Street Corp now owns 63,218 shares of the company’s stock valued at $101,000 after purchasing an additional 10,500 shares during the period. Institutional investors own 30.68% of the company’s stock.

About BioXcel Therapeutics

BioXcel Therapeutics, Inc is a biopharmaceutical company leveraging an AI-driven drug development platform to identify and advance novel or repurposed therapies in neuroscience and immunology. The proprietary BioXcel AI engine analyzes preclinical and clinical data to reveal new therapeutic applications for existing small molecules and biologics, aiming to streamline development timelines and improve patient outcomes.

BioXcel’s commercial portfolio includes two FDA-approved therapies. IGALMI® (dexmedetomidine) is indicated for the acute treatment of agitation in schizophrenia or bipolar I disorder, offering a noninvasive, sublingual delivery option.