Biohaven (NYSE:BHVN) Given New $10.00 Price Target at HC Wainwright

Biohaven (NYSE:BHVN) had its price objective trimmed by HC Wainwright from $11.00 to $10.00 in a research note published on Wednesday, Marketbeat Ratings reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. Citigroup reiterated a “buy” rating on shares of Biohaven in a report on Friday, December 26th. Bank of America cut shares of Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a research report on Wednesday, November 5th. Royal Bank Of Canada lifted their target price on Biohaven from $22.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley decreased their target price on Biohaven from $26.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, January 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Biohaven in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.93.

Biohaven Price Performance

Shares of BHVN opened at $10.63 on Wednesday. The stock has a market cap of $1.12 billion, a P/E ratio of -1.53 and a beta of 1.15. Biohaven has a 1 year low of $7.48 and a 1 year high of $31.87. The stock’s 50-day moving average price is $11.62 and its two-hundred day moving average price is $12.68. The company has a current ratio of 3.18, a quick ratio of 2.86 and a debt-to-equity ratio of 4.59.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01. On average, equities analysts predict that Biohaven will post -8.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BHVN. PNC Financial Services Group Inc. grew its holdings in Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after acquiring an additional 1,268 shares during the last quarter. PFS Partners LLC bought a new position in shares of Biohaven during the third quarter valued at $60,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after purchasing an additional 2,583 shares during the period. IFP Advisors Inc grew its stake in shares of Biohaven by 55.4% in the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after purchasing an additional 1,450 shares during the last quarter. Finally, Arax Advisory Partners grew its stake in shares of Biohaven by 943.3% in the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock worth $55,000 after purchasing an additional 4,443 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

About Biohaven

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.