Biohaven Ltd. (NYSE:BHVN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have earned a consensus rating of “Buy” from the fifteen research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $58.46.

A number of research firms have recently issued reports on BHVN. Robert W. Baird reduced their price target on shares of Biohaven from $60.00 to $57.00 and set an “outperform” rating for the company in a research report on Monday, April 28th. Cantor Fitzgerald raised Biohaven to a “strong-buy” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. reduced their target price on Biohaven from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 18th. Royal Bank Of Canada lowered Biohaven from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $54.00 to $21.00 in a research note on Monday, May 19th. Finally, William Blair raised Biohaven to a “strong-buy” rating in a research note on Thursday, April 24th.

Biohaven Trading Up 1.8%

Shares of BHVN opened at $14.18 on Tuesday. Biohaven has a twelve month low of $13.69 and a twelve month high of $55.70. The stock’s 50 day moving average is $15.94 and its two-hundred day moving average is $25.87. The firm has a market capitalization of $1.45 billion, a PE ratio of -1.52 and a beta of 0.91.

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

Hedge Funds Weigh In On Biohaven

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Biohaven by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after purchasing an additional 628,211 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Biohaven by 12.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company’s stock worth $260,735,000 after purchasing an additional 756,032 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Biohaven by 0.8% during the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company’s stock worth $244,990,000 after purchasing an additional 50,052 shares during the last quarter. Suvretta Capital Management LLC lifted its position in shares of Biohaven by 8.1% during the fourth quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company’s stock worth $209,917,000 after purchasing an additional 421,052 shares during the last quarter. Finally, Farallon Capital Management LLC lifted its position in shares of Biohaven by 21.6% during the fourth quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company’s stock worth $165,392,000 after purchasing an additional 785,578 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

About Biohaven

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.