Biohaven (NYSE:BHVN) Given New $30.00 Price Target at TD Cowen

Biohaven (NYSE:BHVN) had its price target lifted by investment analysts at TD Cowen from $15.00 to $30.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 185.77% from the stock’s current price.

BHVN has been the topic of a number of other research reports. Morgan Stanley cut their price target on shares of Biohaven from $26.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, January 6th. William Blair restated a “market perform” rating on shares of Biohaven in a report on Friday, December 26th. JPMorgan Chase & Co. lowered their price objective on Biohaven from $47.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a research note on Monday. Finally, UBS Group lowered Biohaven from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $11.00 in a report on Wednesday, November 26th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.93.

Biohaven Stock Up 2.2%

Biohaven stock traded up $0.23 during mid-day trading on Wednesday, reaching $10.50. The stock had a trading volume of 741,300 shares, compared to its average volume of 2,678,721. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -1.50 and a beta of 1.15. The company has a 50-day moving average price of $11.57 and a two-hundred day moving average price of $12.52. Biohaven has a one year low of $7.48 and a one year high of $31.18. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.18 and a quick ratio of 3.18.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.01. On average, analysts expect that Biohaven will post -8.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Biohaven

A number of large investors have recently made changes to their positions in the company. Suvretta Capital Management LLC increased its position in shares of Biohaven by 83.0% during the 4th quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock valued at $116,140,000 after purchasing an additional 4,666,666 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Biohaven by 50.3% in the fourth quarter. Stifel Financial Corp now owns 9,939,856 shares of the company’s stock worth $112,221,000 after buying an additional 3,328,506 shares during the last quarter. Infinitum Asset Management LLC grew its position in Biohaven by 267.6% during the fourth quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock valued at $70,562,000 after buying an additional 4,550,000 shares during the period. State Street Corp grew its position in Biohaven by 34.2% during the fourth quarter. State Street Corp now owns 5,716,487 shares of the company’s stock valued at $64,539,000 after buying an additional 1,458,204 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Biohaven by 52.9% during the fourth quarter. Vanguard Group Inc. now owns 4,395,946 shares of the company’s stock valued at $49,630,000 after buying an additional 1,520,756 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors.

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.