Brokerages Set Biohaven Ltd. (NYSE:BHVN) Price Target at $22.27

Biohaven Ltd. (NYSE:BHVN) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five 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 issued ratings on the stock in the last year is $22.2667.

Several brokerages have recently weighed in on BHVN. Morgan Stanley lowered their target price on Biohaven from $21.00 to $18.00 and set an “overweight” rating for the company in a research note on Wednesday, May 13th. HC Wainwright restated a “neutral” rating and set a $10.00 target price on shares of Biohaven in a research note on Tuesday, May 26th. Canaccord Genuity Group began coverage on Biohaven in a research note on Monday, April 13th. They set a “buy” rating and a $21.00 target price for the company. Citigroup raised their target price on Biohaven from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Wall Street Zen downgraded Biohaven from a “sell” rating to a “strong sell” rating in a research note on Sunday, April 26th.

Institutional Trading of Biohaven

Several large investors have recently modified their holdings of BHVN. Janus Henderson Group PLC grew its stake in shares of Biohaven by 1,145.9% during the first quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock valued at $148,214,000 after acquiring an additional 16,127,247 shares in the last quarter. Suvretta Capital Management LLC grew its stake in shares of Biohaven by 83.0% during the fourth quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock valued at $116,140,000 after acquiring an additional 4,666,666 shares in the last quarter. Infinitum Asset Management LLC grew its stake in shares of 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 acquiring an additional 4,550,000 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Biohaven by 50.3% during the fourth quarter. Stifel Financial Corp now owns 9,939,856 shares of the company’s stock worth $112,221,000 after purchasing an additional 3,328,506 shares during the last quarter. Finally, Stempoint Capital LP bought a new position in shares of Biohaven during the first quarter worth about $13,489,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Trading Up 2.5%

BHVN stock opened at $11.35 on Friday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -2.00 and a beta of 1.35. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87. The business has a fifty day simple moving average of $9.96 and a 200-day simple moving average of $10.50. Biohaven has a 52 week low of $7.48 and a 52 week high of $18.57.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). On average, equities research analysts expect that Biohaven will post -3.07 EPS for the current year.

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.