Biohaven Ltd. (NYSE:BHVN – Get Free Report)’s share price dropped 6.8% during trading on Friday . The stock traded as low as $15.80 and last traded at $15.6540. Approximately 108,962 shares traded hands during trading, a decline of 96% from the average session volume of 2,698,377 shares. The stock had previously closed at $16.79.
Analyst Ratings Changes
Several analysts have weighed in on BHVN shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a report on Tuesday, June 2nd. Canaccord Genuity Group started coverage on shares of Biohaven in a research note on Monday, April 13th. They issued a “buy” rating and a $21.00 target price on the stock. Wall Street Zen raised shares of Biohaven from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Citigroup increased their price target on shares of Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Bank of America reaffirmed an “underperform” rating and set a $11.00 price objective (down from $12.00) on shares of Biohaven in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Biohaven has a consensus rating of “Moderate Buy” and an average price target of $21.62.
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Biohaven Price Performance
Biohaven (NYSE:BHVN – Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). Sell-side analysts forecast that Biohaven Ltd. will post -3.1 earnings per share for the current year.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Aberdeen Group plc bought a new position in Biohaven during the 4th quarter worth approximately $7,829,000. Capital Research Global Investors lifted its position in Biohaven by 108.9% in the third quarter. Capital Research Global Investors now owns 1,011,530 shares of the company’s stock valued at $15,183,000 after purchasing an additional 527,337 shares during the last quarter. Integral Health Asset Management LLC boosted 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 purchasing an additional 350,000 shares during the period. SG Americas Securities LLC grew its holdings in shares of Biohaven by 291.8% in the fourth quarter. SG Americas Securities LLC now owns 105,518 shares of the company’s stock worth $1,191,000 after purchasing an additional 78,585 shares during the last quarter. Finally, ARS Investment Partners LLC grew its holdings in shares of Biohaven by 12.4% in the fourth quarter. ARS Investment Partners LLC now owns 1,239,600 shares of the company’s stock worth $13,995,000 after purchasing an additional 137,051 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.
Biohaven Company Profile
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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