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

Shares of Biohaven Ltd. (NYSE:BHVN) have earned an average rating of “Moderate Buy” from the eighteen brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, nine have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $24.00.

A number of brokerages have recently issued reports on BHVN. BTIG Research reissued a “buy” rating and issued a $16.00 target price on shares of Biohaven in a research report on Tuesday, November 18th. Citigroup reiterated a “buy” rating on shares of Biohaven in a research note on Friday, December 26th. The Goldman Sachs Group upgraded shares of Biohaven to a “strong-buy” rating in a research report on Friday, February 6th. 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 research report on Wednesday, November 5th. Finally, TD Cowen reiterated a “buy” rating on shares of Biohaven in a research note on Wednesday, November 5th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in Biohaven by 113.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after purchasing an additional 1,268 shares during the period. IFP Advisors Inc raised its position in shares of Biohaven by 55.4% in 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 in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Biohaven by 178.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after acquiring an additional 2,583 shares during the period. Arax Advisory Partners boosted its position in shares of Biohaven by 943.3% during the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock worth $55,000 after acquiring an additional 4,443 shares in the last quarter. Finally, PFS Partners LLC bought a new position in Biohaven in the third quarter valued at approximately $60,000. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Down 9.7%

Biohaven stock opened at $10.66 on Wednesday. The stock has a market cap of $1.13 billion, a P/E ratio of -1.53 and a beta of 1.15. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 1.91. Biohaven has a twelve month low of $7.48 and a twelve month high of $32.41. The company’s 50-day moving average price is $11.59 and its two-hundred day moving average price is $12.69.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.01. As a group, analysts expect that Biohaven will post -8.9 EPS for the current year.

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.