BioXcel Therapeutics (NASDAQ:BTAI) Research Coverage Started at Rodman & Renshaw

Rodman & Renshaw started coverage on shares of BioXcel Therapeutics (NASDAQ:BTAI) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $17.00 price objective on the stock.

BTAI has been the subject of several other reports. HC Wainwright lowered their target price on BioXcel Therapeutics from $10.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Zacks Research upgraded BioXcel Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of BioXcel Therapeutics in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, BioXcel Therapeutics presently has an average rating of “Hold” and a consensus price target of $11.50.

BioXcel Therapeutics Stock Down 3.0%

BTAI opened at $1.60 on Tuesday. The firm has a market cap of $34.99 million, a price-to-earnings ratio of -0.16 and a beta of 0.18. BioXcel Therapeutics has a fifty-two week low of $1.17 and a fifty-two week high of $8.08. The company’s 50-day moving average price is $1.67 and its 200 day moving average price is $2.09.

Institutional Investors Weigh In On BioXcel Therapeutics

Several large investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. bought a new stake in shares of BioXcel Therapeutics during the first quarter valued at approximately $50,000. Geode Capital Management LLC grew its holdings in BioXcel Therapeutics by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 28,182 shares of the company’s stock worth $51,000 after buying an additional 6,120 shares in the last quarter. XTX Topco Ltd bought a new position in BioXcel Therapeutics in the 2nd quarter worth approximately $42,000. Oaktree Capital Management LP acquired a new stake in BioXcel Therapeutics in the 2nd quarter valued at approximately $437,000. Finally, Oaktree Fund Advisors LLC acquired a new stake in BioXcel Therapeutics in the 2nd quarter valued at approximately $78,000. Institutional investors and hedge funds own 30.68% of the company’s stock.

BioXcel Therapeutics Company Profile

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.