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

Biohaven Ltd. (NYSE:BHVN) has been assigned an average recommendation of “Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $58.46.

Several equities analysts have recently weighed in on BHVN shares. JPMorgan Chase & Co. decreased their price target on shares of Biohaven from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a report on Thursday, April 24th. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Royal Bank Of Canada lowered shares of Biohaven from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $54.00 to $21.00 in a research note on Monday, May 19th. Finally, Morgan Stanley reduced their price objective on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, March 7th.

Institutional Trading of Biohaven

A number of large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in shares of Biohaven by 14.0% in the 4th quarter. Rhumbline Advisers now owns 117,595 shares of the company’s stock valued at $4,392,000 after purchasing an additional 14,407 shares during the period. Principal Financial Group Inc. grew its holdings in Biohaven by 4.4% during the fourth quarter. Principal Financial Group Inc. now owns 77,387 shares of the company’s stock worth $2,890,000 after purchasing an additional 3,281 shares during the period. Handelsbanken Fonder AB increased its position in Biohaven by 20.8% during the fourth quarter. Handelsbanken Fonder AB now owns 25,000 shares of the company’s stock worth $934,000 after buying an additional 4,300 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Biohaven by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company’s stock valued at $11,021,000 after buying an additional 24,703 shares during the period. Finally, Amalgamated Bank raised its stake in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after buying an additional 527 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Price Performance

Shares of Biohaven stock opened at $14.38 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -1.54 and a beta of 0.95. The stock’s 50-day moving average is $17.97 and its 200-day moving average is $28.87. Biohaven has a one year low of $14.18 and a one year high of $55.70.

Biohaven (NYSE:BHVN) last announced its earnings results on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50). On average, equities analysts expect that Biohaven will post -8.9 EPS for the current year.

Biohaven Company Profile

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.