Lucid Capital Markets
Lucid Capital Markets, LLC
Lucid Capital Markets is a New York-based broker-dealer and investment bank that also does business as Americas Executions (AmerX), a New York Stock Exchange floor broker. Its equity research, launched in 2024, focuses on small- and mid-cap healthcare, financial services and digital-infrastructure companies.
Company history
The firm was formed in New York in June 2015 as Americas Executions, an NYSE floor broker, and later took the legal name Lucid Capital Markets, LLC while continuing to do business as AmerX; it is wholly owned by GI4 Holdings, LLC. In March 2024 David Rosenberg, previously co-president and chief executive of Ladenburg Thalmann & Co., joined as co-founder and co-CEO of a new investment banking business, which established REIT, specialty-finance and healthcare research groups that summer.
- 2015Formed in New York as NYSE floor broker Americas Executions
- 2024David Rosenberg joins to launch investment banking business
- 2024Establishes REIT, specialty finance and healthcare equity research groups
- 2026Adds medical technology and digital infrastructure research
Research
Coverage spans healthcare (biotechnology, inflammation and immunology, and medical technology), equity REITs and business development companies, AI and high-performance-computing infrastructure and crypto companies, and small-cap growth stocks, with an emphasis on small and mid caps. Ratings are Buy, Neutral or Sell based on expected risk-adjusted total return over 12 months; about 80% of rated stocks were Buy as of January 2026.
Coverage12M
- Stocks
- 1
- Ratings
- 1
- Price targets
- 0
- Upgrades
- 1
- Downgrades
- 0
- Initiations
- 0
- Reiterations
- 0
- Positive100%1
- Neutral0%0
- Negative0%0
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 ATYRaTyr Pharma, Inc. | Neutral | — |
 BTAIBioXcel Therapeutics, Inc. | Buy | — |
 INMBINmune Bio, Inc. | Buy | — |
Recent actions
| Stock | Rating action | Rating | Date |
|---|---|---|---|
| INmune Bio, Inc.INMB | Upgrade | Neutral →Buy | Mar 11 |
| aTyr Pharma, Inc.ATYR | Downgrade | Buy →Neutral | Sep 15, 2025 |
| BioXcel Therapeutics, Inc.BTAI | Reiterate | Buy | Jul 15, 2025 |
References
- Equity Research - Lucid Capital Marketslucidcapitalmarkets.com
- Meet the Team - Lucid Capital Marketslucidcapitalmarkets.com
- Lucid Capital Markets, LLC - FINRA BrokerCheck Reportfiles.brokercheck.finra.org
- Lucid Capital Markets, LLC (dba Americas Executions) Statement of Financial Conditioncontent-archive.fast-edgar.com
- Lucid Capital Markets Establishes Healthcare Equity Research Groupbusinesswire.com
- Lucid Capital Markets initiation report (rating definitions)medicinova.com