Shares of Biohaven Ltd. (NYSE:BHVN – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the seventeen research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $18.69.
BHVN has been the subject of several analyst reports. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a report on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Biohaven in a report on Friday, June 26th. Canaccord Genuity Group set a $21.00 price objective on shares of Biohaven in a research report on Friday, August 28th. Needham & Company LLC set a $11.00 price objective on shares of Biohaven in a research note on Monday, June 29th. Finally, Bank of America reiterated an “underperform” rating and issued a $11.00 price objective (down from $12.00) on shares of Biohaven in a research note on Monday, June 29th.
Check Out Our Latest Research Report on BHVN
Biohaven Trading Up 1.5%
Biohaven (NYSE:BHVN – Get Free Report) last issued its quarterly earnings data 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). On average, sell-side analysts anticipate that Biohaven will post -3.33 earnings per share for the current fiscal year.
Institutional Trading of Biohaven
A number of institutional investors and hedge funds have recently modified their holdings of the business. Opaleye Management Inc. purchased a new position in Biohaven in the second quarter worth $1,159,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Biohaven during the 2nd quarter valued at $60,000. Engineers Gate Manager LP purchased a new stake in shares of Biohaven during the 2nd quarter valued at $581,000. Integrated Wealth Concepts LLC raised its stake in shares of Biohaven by 10.4% during the 2nd 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 during the period. Finally, NewEdge Advisors LLC raised its stake in shares of Biohaven by 1,525.3% during the 2nd quarter. NewEdge Advisors LLC now owns 16,659 shares of the company’s stock worth $248,000 after purchasing an additional 15,634 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.
About Biohaven
Biohaven Ltd. (NYSE: BHVN) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for neurological and immunological disorders. The company uses proprietary drug-development platforms to pursue treatments for conditions with significant unmet medical needs, including migraine, epilepsy, obsessive-compulsive disorder and other central nervous system diseases.
Biohaven’s pipeline has included small-molecule and biologic candidates such as troriluzole, an investigational therapy being studied in several neurological disorders, and other programs targeting ion channels, glutamate signaling and immune pathways.
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