Shares of Biohaven Ltd. (NYSE:BHVN – Get Free Report) were up 5.7% during trading on Monday. The company traded as high as $11.37 and last traded at $11.3980. Approximately 315,744 shares changed hands during trading, a decline of 88% from the average daily volume of 2,648,833 shares. The stock had previously closed at $10.78.
Analysts Set New Price Targets
BHVN has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Biohaven in a report on Friday, June 26th. Royal Bank Of Canada downgraded Biohaven from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $23.00 to $19.00 in a research note on Tuesday, September 8th. Needham & Company LLC set a $11.00 price objective on shares of Biohaven in a report on Monday, June 29th. HC Wainwright reiterated a “neutral” rating and set a $10.00 target price on shares of Biohaven in a research report on Thursday, September 10th. Finally, TD Cowen reissued a “buy” rating on shares of Biohaven in a report on Wednesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.
Check Out Our Latest Research Report on BHVN
Biohaven Stock Performance
The stock has a 50 day moving average of $13.58 and a 200 day moving average of $12.64. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -2.55 and a beta of 1.35. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 21.23.
Biohaven (NYSE:BHVN – Get Free Report) last released its earnings results on Monday, August 10th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15). As a group, analysts predict that Biohaven Ltd. will post -3.33 EPS for the current year.
Institutional Investors Weigh In On Biohaven
Several large investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its holdings in Biohaven by 10.4% in the second quarter. Integrated Wealth Concepts LLC now owns 12,653 shares of the company’s stock worth $188,000 after purchasing an additional 1,189 shares in the last quarter. IFP Advisors Inc lifted its stake in Biohaven by 43.3% in the second quarter. IFP Advisors Inc now owns 6,011 shares of the company’s stock valued at $89,000 after buying an additional 1,816 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in Biohaven by 12.9% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 17,500 shares of the company’s stock valued at $234,000 after buying an additional 2,000 shares during the period. Essential Partners LLC boosted its holdings in shares of Biohaven by 31.7% during the 1st quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock worth $76,000 after buying an additional 2,169 shares in the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Biohaven during the 2nd quarter worth approximately $60,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.
About Biohaven
Biohaven Ltd. (NYSE:BHVN) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for neurological and neuropsychiatric diseases, as well as certain immunological and rare disorders. The company’s research activities include small-molecule medicines, monoclonal antibodies and other innovative therapeutic approaches.
Biohaven’s pipeline has included investigational treatments for conditions such as migraine, obsessive-compulsive disorder, spinal muscular atrophy, amyotrophic lateral sclerosis, mood disorders and autoimmune diseases.
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