Biohaven (NYSE:BHVN) Price Target Lowered to $9.00 at Royal Bank Of Canada

Biohaven (NYSE:BHVN) had its price target decreased by stock analysts at Royal Bank Of Canada from $19.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential upside of 5.63% from the company’s current price.

A number of other equities research analysts have also recently commented on BHVN. BTIG Research decreased their price target on Biohaven from $33.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday. Citigroup assumed coverage on shares of Biohaven in a research note on Wednesday, September 17th. They set a “buy” rating and a $28.00 price target on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Biohaven in a research report on Wednesday, October 8th. Morgan Stanley reissued an “overweight” rating on shares of Biohaven in a report on Wednesday. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.21.

Biohaven Stock Up 2.2%

Biohaven stock traded up $0.18 during midday trading on Thursday, hitting $8.52. 3,013,766 shares of the company’s stock were exchanged, compared to its average volume of 2,013,829. Biohaven has a 12 month low of $7.80 and a 12 month high of $54.68. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market cap of $901.34 million, a PE ratio of -1.11 and a beta of 1.10. The firm has a 50-day moving average of $15.42 and a two-hundred day moving average of $15.83.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, August 11th. The company reported ($1.94) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.94). As a group, analysts expect that Biohaven will post -8.9 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently bought and sold shares of BHVN. Norges Bank acquired a new stake in shares of Biohaven in the second quarter valued at $12,735,000. Millennium Management LLC boosted its stake in shares of Biohaven by 1,172.9% in the first quarter. Millennium Management LLC now owns 901,258 shares of the company’s stock valued at $21,666,000 after purchasing an additional 830,457 shares during the period. Bellevue Group AG increased its stake in Biohaven by 37.3% during the 2nd quarter. Bellevue Group AG now owns 2,802,853 shares of the company’s stock worth $39,548,000 after buying an additional 762,000 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Biohaven in the 2nd quarter valued at approximately $9,289,000. Finally, T. Rowe Price Investment Management Inc. purchased a new stake in shares of Biohaven during the first quarter worth $15,481,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Company Profile

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.