Biohaven (NYSE:BHVN) Reaches New 52-Week Low – Should You Sell?

Biohaven Ltd. (NYSE:BHVN)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $7.50 and last traded at $7.52, with a volume of 882994 shares changing hands. The stock had previously closed at $7.79.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BHVN shares. HC Wainwright restated a “buy” rating and set a $30.00 target price (down previously from $54.00) on shares of Biohaven in a research note on Tuesday, August 12th. Robert W. Baird set a $42.00 price objective on Biohaven in a report on Wednesday, November 5th. Cowen reissued a “buy” rating on shares of Biohaven in a report on Wednesday, November 5th. Citigroup assumed coverage on Biohaven in a research note on Wednesday, September 17th. They set a “buy” rating and a $28.00 price target for the company. Finally, TD Cowen lowered their price objective on shares of Biohaven from $50.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.21.

Biohaven Trading Up 2.3%

The firm has a market capitalization of $843.46 million, a P/E ratio of -1.04 and a beta of 1.10. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 1.91. The stock has a fifty day simple moving average of $14.99 and a 200 day simple moving average of $15.50.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.64) EPS for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.27. As a group, research analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current year.

Institutional Investors Weigh In On Biohaven

Several large investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC bought a new position in shares of Biohaven during the 1st quarter valued at approximately $25,000. PNC Financial Services Group Inc. grew 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 valued at $43,000 after purchasing an additional 623 shares during the last quarter. IFP Advisors Inc grew its holdings in Biohaven by 84,800.0% during the 1st quarter. IFP Advisors Inc now owns 2,547 shares of the company’s stock valued at $61,000 after purchasing an additional 2,544 shares during the last quarter. PFS Partners LLC bought a new stake in Biohaven in the third quarter worth about $60,000. Finally, US Bancorp DE boosted its position in shares of Biohaven by 62.8% during the first quarter. US Bancorp DE now owns 4,837 shares of the company’s stock valued at $116,000 after buying an additional 1,866 shares during the period. 88.78% of the stock is owned by institutional investors.

About Biohaven

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.