Analysts Set Biohaven Ltd. (NYSE:BHVN) Target Price at $22.43

Shares of Biohaven Ltd. (NYSE:BHVN) have been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.4286.

A number of equities analysts recently issued reports on BHVN shares. UBS Group cut Biohaven from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $11.00 in a report on Wednesday, November 26th. TD Cowen increased their target price on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Royal Bank Of Canada lifted their target price on Biohaven from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Citigroup reissued a “buy” rating on shares of Biohaven in a research note on Friday, December 26th. Finally, William Blair restated a “market perform” rating on shares of Biohaven in a report on Friday, December 26th.

Biohaven Stock Performance

Biohaven stock opened at $8.38 on Friday. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.18 and a quick ratio of 3.18. The firm has a market capitalization of $1.26 billion, a P/E ratio of -1.20 and a beta of 1.15. Biohaven has a 1-year low of $7.48 and a 1-year high of $31.18. The company’s 50-day moving average is $11.24 and its 200 day moving average is $12.07.

Biohaven (NYSE:BHVN) last announced its earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.01. Research analysts forecast that Biohaven will post -8.9 EPS for the current year.

Hedge Funds Weigh In On Biohaven

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its holdings in shares of Biohaven by 49.4% in the first quarter. AQR Capital Management LLC now owns 114,849 shares of the company’s stock valued at $2,761,000 after purchasing an additional 37,981 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Biohaven by 32.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company’s stock worth $1,747,000 after purchasing an additional 17,562 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Biohaven by 7.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company’s stock valued at $14,174,000 after purchasing an additional 41,040 shares in the last quarter. Intech Investment Management LLC raised its position in Biohaven by 80.3% during the 1st quarter. Intech Investment Management LLC now owns 61,598 shares of the company’s stock valued at $1,481,000 after purchasing an additional 27,433 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Biohaven by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,030,919 shares of the company’s stock worth $28,660,000 after buying an additional 71,939 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.

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.