Biohaven Ltd. (NYSE:BHVN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Biohaven Ltd. (NYSE:BHVN) has received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $18.6875.

Several equities research analysts have recently commented on BHVN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a research note on Friday, August 28th. Royal Bank Of Canada lowered shares of Biohaven from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $23.00 to $19.00 in a report on Tuesday, September 8th. TD Cowen reiterated a “buy” rating on shares of Biohaven in a research report on Wednesday, August 26th. Bank of America reissued an “underperform” rating and set a $11.00 price target (down from $12.00) on shares of Biohaven in a report on Monday, June 29th. Finally, Wall Street Zen upgraded shares of Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th.

Biohaven Price Performance

Biohaven stock opened at $13.83 on Friday. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73. The company has a market capitalization of $2.09 billion, a PE ratio of -2.98 and a beta of 1.28. Biohaven has a one year low of $7.48 and a one year high of $18.57. The business has a 50 day simple moving average of $14.45 and a 200 day simple moving average of $12.15.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15). On average, sell-side analysts forecast that Biohaven will post -3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new stake in shares of Biohaven during the first quarter valued at approximately $1,362,000. The Manufacturers Life Insurance Company increased its holdings in shares of Biohaven by 52.5% in the first quarter. The Manufacturers Life Insurance Company now owns 202,975 shares of the company’s stock valued at $1,717,000 after purchasing an additional 69,894 shares in the last quarter. Janus Henderson Group PLC raised its position in Biohaven by 1,145.9% in the 1st quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock worth $148,214,000 after purchasing an additional 16,127,247 shares during the last quarter. Quantinno Capital Management LP raised its position in Biohaven by 190.0% in the 1st quarter. Quantinno Capital Management LP now owns 121,554 shares of the company’s stock worth $1,028,000 after purchasing an additional 79,640 shares during the last quarter. Finally, Defilade Capital Management L.P. acquired a new position in Biohaven during the 1st quarter worth $2,673,000. Institutional investors own 88.78% of the company’s stock.

Biohaven Company Profile

Biohaven Ltd. is a clinical-stage biopharmaceutical company focused on developing therapies for neurological and immunological disorders. The company’s research programs use a range of approaches, including small-molecule medicines, biologics and other targeted therapies, with the goal of addressing diseases that have limited or inadequate treatment options.

Biohaven’s pipeline has included investigational treatments for conditions such as epilepsy, obsessive-compulsive disorder, neurodegenerative diseases, neuroinflammatory disorders and immune-mediated diseases.