Biohaven (NYSE:BHVN) Price Target Raised to $23.00

Biohaven (NYSE:BHVN) had its price objective lifted by Royal Bank Of Canada from $22.00 to $23.00 in a research report sent to investors on Tuesday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also recently commented on the stock. Sanford C. Bernstein reissued a “market perform” rating and set a $9.00 price target (down from $34.00) on shares of Biohaven in a research report on Thursday, November 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a research report on Wednesday, November 5th. Citigroup reissued a “buy” rating on shares of Biohaven in a research report on Friday, December 26th. UBS Group downgraded Biohaven from a “buy” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $11.00 in a research note on Wednesday, November 26th. Finally, Bank of America cut Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a research note on Wednesday, November 5th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.93.

Biohaven Trading Down 2.8%

NYSE:BHVN opened at $10.31 on Tuesday. The company has a market cap of $1.09 billion, a P/E ratio of -1.48 and a beta of 1.15. Biohaven has a twelve month low of $7.48 and a twelve month high of $31.80. The business has a 50 day moving average price of $11.65 and a two-hundred day moving average price of $12.66. The company has a quick ratio of 2.86, a current ratio of 3.18 and a debt-to-equity ratio of 4.59.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01. As a group, analysts expect that Biohaven will post -8.9 EPS 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. lifted its position in shares of 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 acquiring an additional 1,268 shares during the period. IFP Advisors Inc raised its stake in Biohaven by 55.4% in the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after purchasing an additional 1,450 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after purchasing an additional 2,583 shares during the period. Arax Advisory Partners lifted its position in Biohaven by 943.3% during the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock worth $55,000 after purchasing an additional 4,443 shares during the period. Finally, PFS Partners LLC acquired a new stake in Biohaven during the third quarter worth about $60,000. Institutional investors own 88.78% of the company’s stock.

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.