Biohaven Ltd. (NYSE:BHVN – Get Free Report)’s stock price traded up 9% during mid-day trading on Wednesday . The stock traded as high as $10.95 and last traded at $10.9730. 864,521 shares traded hands during trading, a decline of 63% from the average session volume of 2,345,064 shares. The stock had previously closed at $10.07.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on BHVN shares. Morgan Stanley decreased their target price on Biohaven from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a research report on Wednesday. The Goldman Sachs Group raised Biohaven to a “strong-buy” rating in a report on Friday, February 6th. HC Wainwright restated a “neutral” rating and issued a $10.00 target price on shares of Biohaven in a research note on Tuesday. Finally, Citigroup raised their target price on Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Biohaven has a consensus rating of “Moderate Buy” and an average target price of $22.27.
Get Our Latest Research Report on Biohaven
Biohaven Trading Up 10.1%
Biohaven (NYSE:BHVN – Get Free Report) last posted its earnings results on Monday, May 4th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). On average, analysts expect that Biohaven Ltd. will post -3.01 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Biohaven
Several large investors have recently made changes to their positions in BHVN. PNC Financial Services Group Inc. boosted its position in Biohaven by 113.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after buying an additional 1,268 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Biohaven by 55.4% in the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after acquiring an additional 1,450 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Biohaven by 178.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after acquiring an additional 2,583 shares during the last quarter. Arax Advisory Partners increased its holdings in Biohaven by 943.3% during the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after purchasing an additional 4,443 shares in the last quarter. Finally, Essential Partners LLC increased its holdings in Biohaven by 31.7% during the 1st quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock valued at $76,000 after purchasing an additional 2,169 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.
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.
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