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

Sanford C. Bernstein reiterated their market perform rating on shares of Biohaven (NYSE:BHVN) in a research note published on Thursday morning, Marketbeat.com reports. They currently have a $9.00 target price on the stock, down from their previous target price of $34.00.

BHVN has been the topic of several other reports. BTIG Research cut their target price on shares of Biohaven from $33.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday. Cowen restated a “buy” rating on shares of Biohaven in a research note on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research report on Wednesday, October 8th. TD Cowen decreased their target price on Biohaven from $50.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Bank of America cut Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.21.

Biohaven Stock Performance

Shares of Biohaven stock opened at $8.54 on Thursday. The stock has a market capitalization of $903.02 million, a price-to-earnings ratio of -1.11 and a beta of 1.10. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.82 and a quick ratio of 3.82. The business has a 50-day moving average of $15.28 and a 200 day moving average of $15.78. Biohaven has a 12 month low of $7.80 and a 12 month high of $54.68.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Monday, August 11th. The company reported ($1.94) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($1.94). As a group, sell-side analysts forecast that Biohaven will post -8.9 earnings per share for the current year.

Institutional Trading of Biohaven

A number of hedge funds and other institutional investors have recently bought and sold shares of BHVN. PNC Financial Services Group Inc. lifted its holdings in Biohaven by 53.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company’s stock worth $43,000 after buying an additional 623 shares during the last quarter. Emerald Mutual Fund Advisers Trust raised its position in shares of Biohaven by 0.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 173,656 shares of the company’s stock worth $2,607,000 after acquiring an additional 657 shares in the last quarter. RWA Wealth Partners LLC lifted its stake in Biohaven by 7.0% during the first quarter. RWA Wealth Partners LLC now owns 12,622 shares of the company’s stock worth $303,000 after purchasing an additional 822 shares during the last quarter. SVB Wealth LLC acquired a new position in Biohaven in the first quarter valued at approximately $25,000. Finally, Elkhorn Partners Limited Partnership increased its stake in Biohaven by 26.1% in the second quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock valued at $82,000 after purchasing an additional 1,200 shares during the last quarter. 88.78% of the stock is currently 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.