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

Biohaven Ltd. (NYSE:BHVN) has received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $21.6250.

BHVN has been the subject of a number of research analyst reports. Royal Bank Of Canada reduced their price objective on shares of Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Biohaven in a research note on Friday, June 26th. Citigroup upped their price target on shares of Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. Finally, HC Wainwright reiterated a “neutral” rating and issued a $10.00 price objective on shares of Biohaven in a report on Tuesday, May 26th.

Hedge Funds Weigh In On Biohaven

Several hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of Biohaven by 113.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after acquiring an additional 1,268 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after acquiring an additional 1,450 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Biohaven by 178.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after acquiring an additional 2,583 shares during the last quarter. Arax Advisory Partners boosted its position in shares of Biohaven by 943.3% during the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after acquiring an additional 4,443 shares during the last quarter. Finally, Essential Partners LLC grew its holdings in shares of Biohaven by 31.7% in the first quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock valued at $76,000 after purchasing an additional 2,169 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Trading Down 2.2%

Shares of BHVN stock opened at $14.33 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. The company has a market cap of $2.16 billion, a price-to-earnings ratio of -2.53 and a beta of 1.28. The stock has a 50 day simple moving average of $13.11 and a 200-day simple moving average of $11.46. Biohaven has a 1-year low of $7.48 and a 1-year high of $18.57.

Biohaven (NYSE:BHVN) last announced its earnings results on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). On average, equities research analysts expect that Biohaven will post -3.1 EPS 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.