Biohaven Ltd. (NYSE:BHVN) Receives $21.75 Average PT from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $21.75.

BHVN has been the topic of several analyst reports. HC Wainwright restated a “neutral” rating and set a $10.00 price objective on shares of Biohaven in a report on Tuesday, May 26th. Bank of America reiterated an “underperform” rating and issued a $11.00 target price (down from $12.00) on shares of Biohaven in a research note on Monday, June 29th. Needham & Company LLC set a $11.00 target price on Biohaven in a research report on Monday, June 29th. Wall Street Zen upgraded Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Biohaven in a research note on Friday, June 26th.

Biohaven Stock Performance

Shares of BHVN opened at $13.91 on Wednesday. Biohaven has a 1 year low of $7.48 and a 1 year high of $18.57. The company’s 50 day simple moving average is $14.59 and its 200 day simple moving average is $11.74. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -3.00 and a beta of 1.26. The company has a debt-to-equity ratio of 21.23, a quick ratio of 4.73 and a current ratio of 4.73.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, August 10th. The company reported ($0.91) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.15). On average, sell-side analysts predict that Biohaven will post -3.29 EPS for the current year.

Institutional Investors Weigh In On Biohaven

Several hedge funds have recently modified their holdings of BHVN. Renaissance Technologies LLC purchased a new stake in shares of Biohaven during the 1st quarter valued at $1,362,000. The Manufacturers Life Insurance Company raised its position in shares of Biohaven by 52.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 202,975 shares of the company’s stock worth $1,717,000 after buying an additional 69,894 shares during the period. Quantinno Capital Management LP boosted its holdings in Biohaven by 190.0% in the first quarter. Quantinno Capital Management LP now owns 121,554 shares of the company’s stock valued at $1,028,000 after acquiring an additional 79,640 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Biohaven by 1,145.9% in 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 during the last quarter. Finally, Defilade Capital Management L.P. purchased a new stake in Biohaven during the first quarter valued at about $2,673,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Company Profile

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.