Biohaven Ltd. (NYSE:BHVN) Receives Consensus Rating of “Moderate Buy” from Analysts

Biohaven Ltd. (NYSE:BHVN) has been assigned a consensus rating of “Moderate Buy” from the eighteen brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $25.40.

A number of research firms recently weighed in on BHVN. TD Cowen restated a “buy” rating on shares of Biohaven in a research note on Wednesday, November 5th. William Blair restated a “market perform” rating on shares of Biohaven in a research report on Friday, December 26th. Bank of America downgraded shares of Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Wednesday, November 5th. HC Wainwright reissued a “neutral” rating and set a $11.00 price objective on shares of Biohaven in a report on Friday, December 26th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Biohaven from $47.00 to $15.00 and set an “overweight” rating for the company in a report on Thursday, November 20th.

Biohaven Stock Up 7.9%

Shares of NYSE:BHVN opened at $11.61 on Friday. Biohaven has a fifty-two week low of $7.48 and a fifty-two week high of $44.28. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 1.91. The firm’s 50-day simple moving average is $11.21 and its 200-day simple moving average is $13.04. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -1.53 and a beta of 1.14.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.64) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.91) by $0.27. As a group, equities research analysts predict that Biohaven will post -8.9 earnings per share for the current year.

Insider Transactions at Biohaven

In other news, Director John W. Childs purchased 3,333,333 shares of the business’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average price of $7.50 per share, with a total value of $24,999,997.50. Following the purchase, the director directly owned 5,653,904 shares of the company’s stock, valued at $42,404,280. This represents a 143.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory Bailey acquired 400,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was acquired at an average price of $7.50 per share, for a total transaction of $3,000,000.00. Following the completion of the transaction, the director directly owned 2,020,071 shares in the company, valued at approximately $15,150,532.50. This represents a 24.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 4,416,999 shares of company stock valued at $33,144,833. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in shares of Biohaven by 178.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after purchasing an additional 2,583 shares during the last quarter. Leonteq Securities AG purchased a new stake in Biohaven in the 4th quarter valued at approximately $78,000. IFP Advisors Inc grew its holdings in Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after buying an additional 1,450 shares during the last quarter. Handelsbanken Fonder AB increased its position in Biohaven by 34.1% during the fourth quarter. Handelsbanken Fonder AB now owns 36,600 shares of the company’s stock worth $413,000 after buying an additional 9,300 shares in the last quarter. Finally, Profund Advisors LLC raised its holdings in shares of Biohaven by 118.3% in the fourth quarter. Profund Advisors LLC now owns 77,279 shares of the company’s stock worth $872,000 after acquiring an additional 41,881 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Company Profile

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.