Leerink Partners Cuts Biohaven (NYSE:BHVN) Price Target to $50.00

Biohaven (NYSE:BHVNFree Report) had its price target cut by Leerink Partners from $60.00 to $50.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also recently commented on BHVN. William Blair upgraded Biohaven to a “strong-buy” rating in a report on Thursday, April 24th. Bank of America cut their target price on Biohaven from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Tuesday. Robert W. Baird dropped their price objective on Biohaven from $57.00 to $52.00 and set an “outperform” rating on the stock in a research note on Tuesday. Morgan Stanley dropped their price objective on Biohaven from $63.00 to $54.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. dropped their price objective on Biohaven from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 18th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $53.75.

View Our Latest Stock Analysis on Biohaven

Biohaven Stock Down 1.3%

BHVN stock opened at $14.20 on Tuesday. The company has a market cap of $1.50 billion, a PE ratio of -1.85 and a beta of 0.98. The business has a 50-day simple moving average of $14.52 and a 200 day simple moving average of $22.09. Biohaven has a 52 week low of $12.79 and a 52 week high of $55.70. The company has a quick ratio of 2.33, a current ratio of 3.82 and a debt-to-equity ratio of 1.91.

Biohaven (NYSE:BHVNGet Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported ($1.94) EPS for the quarter, meeting analysts’ consensus estimates of ($1.94). Sell-side analysts anticipate that Biohaven will post -8.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. SVB Wealth LLC purchased a new stake in Biohaven in the first quarter worth about $25,000. Parallel Advisors LLC grew its position in shares of Biohaven by 319.8% during the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company’s stock worth $33,000 after purchasing an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Biohaven by 53.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company’s stock worth $43,000 after purchasing an additional 623 shares in the last quarter. IFP Advisors Inc grew its position in shares of Biohaven by 84,800.0% during the first quarter. IFP Advisors Inc now owns 2,547 shares of the company’s stock worth $61,000 after purchasing an additional 2,544 shares in the last quarter. Finally, Virtus Investment Advisers LLC grew its position in shares of Biohaven by 47.7% during the second quarter. Virtus Investment Advisers LLC now owns 6,032 shares of the company’s stock worth $85,000 after purchasing an additional 1,949 shares in the last quarter. 88.78% of the stock is owned by institutional investors.

About Biohaven

(Get Free Report)

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.

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Analyst Recommendations for Biohaven (NYSE:BHVN)

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