Biohaven (NYSE:BHVN) Trading Down 5.7% – Time to Sell?

Biohaven Ltd. (NYSE:BHVN)’s stock price traded down 5.7% on Tuesday . The stock traded as low as $10.32 and last traded at $10.20. 210,853 shares were traded during mid-day trading, a decline of 92% from the average session volume of 2,485,356 shares. The stock had previously closed at $10.82.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. William Blair reiterated a “market perform” rating on shares of Biohaven in a research note on Friday, December 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a research note on Monday, March 9th. TD Cowen increased their price objective on shares of Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Citigroup increased their price objective on shares of Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Biohaven in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $22.53.

Biohaven Stock Performance

The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18. The business’s fifty day simple moving average is $10.12 and its 200-day simple moving average is $11.37. The firm has a market capitalization of $1.60 billion, a PE ratio of -1.53 and a beta of 1.34.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, March 2nd. The company reported ($1.21) EPS for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01. As a group, equities research analysts expect that Biohaven Ltd. will post -2.98 EPS for the current year.

Institutional Trading of Biohaven

Several institutional investors and hedge funds have recently made changes to their positions in the business. Integral Health Asset Management LLC increased its stake in shares of Biohaven by 116.7% during the third quarter. Integral Health Asset Management LLC now owns 650,000 shares of the company’s stock valued at $9,756,000 after buying an additional 350,000 shares during the period. Capital Research Global Investors increased its stake in shares of Biohaven by 108.9% during the third quarter. Capital Research Global Investors now owns 1,011,530 shares of the company’s stock valued at $15,183,000 after buying an additional 527,337 shares during the period. Aberdeen Group plc purchased a new position in shares of Biohaven during the fourth quarter valued at $7,829,000. SG Americas Securities LLC increased its stake in shares of Biohaven by 291.8% during the fourth quarter. SG Americas Securities LLC now owns 105,518 shares of the company’s stock valued at $1,191,000 after buying an additional 78,585 shares during the period. Finally, Prosight Management LP grew its stake in Biohaven by 11.3% in the third quarter. Prosight Management LP now owns 600,000 shares of the company’s stock valued at $9,006,000 after purchasing an additional 60,929 shares during the last quarter. 88.78% of the stock is currently 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.