Biohaven Ltd. (NYSE:BHVN – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, nine have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $21.75.
BHVN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Biohaven in a research report on Friday, June 26th. Needham & Company LLC set a $11.00 target price on shares of Biohaven in a research report on Monday, June 29th. Bank of America reiterated an “underperform” rating and set a $11.00 target price (down from $12.00) on shares of Biohaven in a research note on Monday, June 29th. Weiss Ratings reissued a “sell (e+)” rating on shares of Biohaven in a report on Tuesday, June 2nd. Finally, Morgan Stanley raised their price target on shares of Biohaven from $18.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th.
Biohaven Trading Up 4.6%
Biohaven (NYSE:BHVN – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.15). Equities research analysts forecast that Biohaven will post -3.29 earnings per share for the current year.
Institutional Investors Weigh In On Biohaven
A number of institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Biohaven by 113.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after acquiring an additional 1,268 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Biohaven by 178.4% in 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 period. IFP Advisors Inc grew its holdings in shares of Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after purchasing an additional 1,450 shares in the last quarter. Arax Advisory Partners grew its holdings in shares of Biohaven by 943.3% during the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock worth $55,000 after purchasing an additional 4,443 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in shares of Biohaven during the third quarter valued at approximately $87,000. 88.78% of the stock is owned by institutional investors and hedge funds.
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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