Biohaven (NYSE:BHVN) Shares Up 5.2% – Time to Buy?

Biohaven Ltd. (NYSE:BHVN)’s share price was up 5.2% on Wednesday . The company traded as high as $10.68 and last traded at $10.66. Approximately 529,410 shares traded hands during trading, a decline of 78% from the average daily volume of 2,413,721 shares. The stock had previously closed at $10.13.

Analysts Set New Price Targets

A number of analysts have weighed in on BHVN shares. HC Wainwright reiterated a “neutral” rating and set a $10.00 price target on shares of Biohaven in a report on Tuesday, May 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a report on Wednesday, May 27th. Leerink Partners reiterated an “outperform” rating and set a $15.00 price target on shares of Biohaven in a report on Tuesday, March 3rd. Morgan Stanley decreased their price target on Biohaven from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Finally, Canaccord Genuity Group started coverage on Biohaven in a report on Monday, April 13th. They set a “buy” rating and a $21.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.27.

Biohaven Stock Performance

The company has a debt-to-equity ratio of 1.87, a quick ratio of 7.41 and a current ratio of 7.41. The company has a 50 day moving average price of $9.57 and a 200 day moving average price of $10.38. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -1.88 and a beta of 1.35.

Biohaven (NYSE:BHVN) last issued its earnings results on Monday, May 4th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Equities research analysts predict that Biohaven Ltd. will post -3.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after purchasing an additional 1,268 shares during the last quarter. IFP Advisors Inc raised its holdings in Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after acquiring an additional 1,450 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Biohaven by 178.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after acquiring an additional 2,583 shares during the period. Arax Advisory Partners raised its holdings in Biohaven by 943.3% during the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after acquiring an additional 4,443 shares during the period. Finally, Essential Partners LLC raised its holdings in Biohaven by 31.7% during the 1st quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock valued at $76,000 after acquiring an additional 2,169 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

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.