Biohaven Ltd. (NYSE:BHVN) Receives $21.62 Average PT from Analysts

Biohaven Ltd. (NYSE:BHVN) has received an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, ten have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $21.6250.

Several equities research analysts recently commented on BHVN shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. HC Wainwright reissued a “neutral” rating and issued a $10.00 target price on shares of Biohaven in a research report on Tuesday, May 26th. Needham & Company LLC set a $11.00 price target on shares of Biohaven in a research note on Monday, June 29th. Wall Street Zen upgraded shares of Biohaven from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Morgan Stanley decreased their price objective on shares of Biohaven from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th.

Biohaven Stock Down 2.9%

Shares of NYSE:BHVN traded down $0.46 during trading on Tuesday, reaching $15.59. 1,469,072 shares of the company traded hands, compared to its average volume of 2,702,567. The firm has a fifty day simple moving average of $11.49 and a 200 day simple moving average of $11.02. The firm has a market cap of $2.35 billion, a P/E ratio of -2.75 and a beta of 1.28. Biohaven has a 1-year low of $7.48 and a 1-year high of $18.57. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Analysts anticipate that Biohaven will post -3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Defilade Capital Management L.P. bought a new stake in Biohaven during the first quarter worth approximately $2,673,000. Essential Partners LLC lifted its stake in shares of Biohaven by 31.7% in the first quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock worth $76,000 after buying an additional 2,169 shares during the last quarter. Stempoint Capital LP acquired a new stake in shares of Biohaven in the first quarter worth $13,489,000. Janus Henderson Group PLC boosted its holdings in shares of Biohaven by 1,145.9% during the 1st quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock worth $148,214,000 after buying an additional 16,127,247 shares during the period. Finally, ADAR1 Capital Management LLC boosted its holdings in shares of Biohaven by 30.6% during the 1st quarter. ADAR1 Capital Management LLC now owns 44,777 shares of the company’s stock worth $379,000 after buying an additional 10,500 shares during the period. 88.78% of the stock is owned by institutional investors.

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.