Biohaven (NYSE:BHVN) Given New $54.00 Price Target at Morgan Stanley

Biohaven (NYSE:BHVN) had its price target decreased by Morgan Stanley from $63.00 to $54.00 in a report published on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages have also commented on BHVN. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research note on Thursday, April 24th. Bank of America lowered their price objective on shares of Biohaven from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday. Cantor Fitzgerald raised shares of Biohaven to a “strong-buy” rating in a research report on Tuesday, May 13th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price (down previously from $54.00) on shares of Biohaven in a report on Tuesday. Finally, Royal Bank Of Canada downgraded shares of Biohaven from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $54.00 to $21.00 in a report on Monday, May 19th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $53.77.

Biohaven Trading Up 0.4%

Shares of BHVN opened at $13.46 on Tuesday. Biohaven has a twelve month low of $12.79 and a twelve month high of $55.70. The firm’s fifty day simple moving average is $14.60 and its 200-day simple moving average is $22.33. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -1.76 and a beta of 0.98.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, August 11th. The company reported ($1.94) earnings per share for the quarter, meeting analysts’ consensus estimates of ($1.94). On average, analysts predict that Biohaven will post -8.9 earnings per share for the current fiscal year.

Institutional Trading of Biohaven

A number of institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its position in Biohaven by 1,172.9% during the first quarter. Millennium Management LLC now owns 901,258 shares of the company’s stock worth $21,666,000 after acquiring an additional 830,457 shares during the last quarter. Farallon Capital Management LLC raised its position in 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 acquiring an additional 785,578 shares during the last quarter. Janus Henderson Group PLC raised its position in 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 acquiring an additional 756,032 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Biohaven during the first quarter worth about $15,481,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Biohaven by 31.2% during the second quarter. JPMorgan Chase & Co. now owns 2,572,042 shares of the company’s stock valued at $36,292,000 after buying an additional 612,209 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.

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.