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

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

BHVN has been the subject of a number of research reports. Leerink Partners restated an “outperform” rating and set a $15.00 target price on shares of Biohaven in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biohaven in a report on Monday, December 29th. Morgan Stanley decreased their price target on shares of Biohaven from $26.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 6th. Royal Bank Of Canada raised their price objective on Biohaven from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Finally, William Blair reaffirmed a “market perform” rating on shares of Biohaven in a report on Friday, December 26th.

Institutional Trading of Biohaven

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted 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 last quarter. PFS Partners LLC bought a new stake in Biohaven in the third quarter worth $60,000. EverSource Wealth Advisors LLC raised its stake in Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after purchasing an additional 2,583 shares in the last quarter. IFP Advisors Inc raised its stake in Biohaven by 55.4% during 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. Finally, 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 valued at $55,000 after purchasing an additional 4,443 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Down 0.4%

Shares of BHVN opened at $8.92 on Friday. The business’s 50 day moving average is $11.35 and its 200 day moving average is $12.21. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 4.59. Biohaven has a 12-month low of $7.48 and a 12-month high of $31.18. The company has a market capitalization of $944.59 million, a PE ratio of -1.28 and a beta of 1.15.

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

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.