Biohaven’s (BHVN) Market Perform Rating Reiterated at Sanford C. Bernstein

Sanford C. Bernstein restated their market perform rating on shares of Biohaven (NYSE:BHVN) in a report released on Thursday morning, MarketBeat.com reports. The firm currently has a $9.00 target price on the stock, down from their prior target price of $34.00.

A number of other research analysts have also recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price (down previously from $54.00) on shares of Biohaven in a research note on Tuesday, August 12th. Bank of America downgraded 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. William Blair restated a “hold” rating on shares of Biohaven in a report on Wednesday. BTIG Research cut their price target on Biohaven from $33.00 to $16.00 and set a “buy” rating for the company in a report on Thursday. Finally, UBS Group reduced their price target on shares of Biohaven from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.21.

Biohaven Stock Down 2.9%

BHVN opened at $8.28 on Thursday. The firm has a market cap of $876.15 million, a price-to-earnings ratio of -1.08 and a beta of 1.10. 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 firm’s 50-day simple moving average is $15.14 and its 200-day simple moving average is $15.65. Biohaven has a twelve month low of $7.63 and a twelve month high of $54.53.

Biohaven (NYSE:BHVN) last announced its quarterly 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). Equities research analysts anticipate that Biohaven will post -8.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHVN. NewEdge Wealth LLC raised its position in shares of Biohaven by 1.3% during the third quarter. NewEdge Wealth LLC now owns 246,553 shares of the company’s stock worth $3,701,000 after purchasing an additional 3,050 shares during the period. Readystate Asset Management LP increased its stake in Biohaven by 14.1% during the 3rd quarter. Readystate Asset Management LP now owns 377,119 shares of the company’s stock worth $5,661,000 after purchasing an additional 46,587 shares in the last quarter. PNC Financial Services Group Inc. raised 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 buying an additional 1,268 shares during the period. Warner Group LLC acquired a new stake in Biohaven during the 3rd quarter worth approximately $219,000. Finally, Assetmark Inc. lifted its stake in Biohaven by 9.9% in the third quarter. Assetmark Inc. now owns 22,830 shares of the company’s stock valued at $343,000 after buying an additional 2,065 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

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.