Biohaven (NYSE:BHVN) Earns Neutral Rating from HC Wainwright

Biohaven (NYSE:BHVN)‘s stock had its “neutral” rating reissued by investment analysts at HC Wainwright in a note issued to investors on Thursday, Benzinga reports. They currently have a $10.00 target price on the stock. HC Wainwright’s price objective would suggest a potential downside of 21.33% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Needham & Company LLC set a $11.00 price target on shares of Biohaven in a research note on Monday, June 29th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biohaven in a report on Friday, August 28th. Royal Bank Of Canada downgraded 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 research report on Tuesday. Canaccord Genuity Group set a $21.00 target price on Biohaven in a report on Friday, August 28th. Finally, TD Cowen reiterated a “buy” rating on shares of Biohaven in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.69.

Biohaven Price Performance

BHVN traded down $2.29 during trading on Thursday, reaching $12.71. The stock had a trading volume of 4,729,681 shares, compared to its average volume of 2,668,528. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of -2.74 and a beta of 1.28. The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 21.23. Biohaven has a 1-year low of $7.48 and a 1-year high of $18.57. The stock has a 50 day moving average of $14.86 and a two-hundred day moving average of $12.10.

Biohaven (NYSE:BHVN) last issued its 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). As a group, equities analysts anticipate that Biohaven will post -3.33 EPS for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC bought a new stake in shares of Biohaven during the first quarter worth approximately $1,362,000. The Manufacturers Life Insurance Company lifted its stake 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 valued at $1,717,000 after purchasing an additional 69,894 shares during the period. Janus Henderson Group PLC increased its stake in shares of Biohaven by 1,145.9% in the 1st 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. Quantinno Capital Management LP increased its stake in shares of Biohaven by 190.0% in the 1st 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. Finally, NewEdge Wealth LLC acquired a new position in Biohaven during the second quarter valued at approximately $3,656,000. Institutional investors and hedge funds 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.