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

Shares of Biohaven Ltd. (NYSE:BHVN) have earned an average recommendation of “Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $54.2308.

Several brokerages have recently issued reports on BHVN. Cantor Fitzgerald upgraded Biohaven to a “strong-buy” rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. decreased their target price on Biohaven from $68.00 to $55.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. HC Wainwright restated a “buy” rating and set a $30.00 target price (down previously from $54.00) on shares of Biohaven in a research note on Tuesday, August 12th. Leerink Partners decreased their target price on Biohaven from $60.00 to $50.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Finally, Robert W. Baird decreased their target price on Biohaven from $57.00 to $52.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th.

Institutional Investors Weigh In On Biohaven

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHVN. SVB Wealth LLC purchased a new stake in Biohaven in the first quarter valued at approximately $25,000. Parallel Advisors LLC lifted its stake in Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company’s stock valued at $33,000 after buying an additional 1,036 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Biohaven by 53.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company’s stock valued at $43,000 after buying an additional 623 shares during the last quarter. IFP Advisors Inc lifted its stake in Biohaven by 84,800.0% in the first quarter. IFP Advisors Inc now owns 2,547 shares of the company’s stock valued at $61,000 after buying an additional 2,544 shares during the last quarter. Finally, Elkhorn Partners Limited Partnership lifted its stake in Biohaven by 26.1% in the second quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock valued at $82,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Stock Performance

NYSE BHVN opened at $15.89 on Wednesday. The stock has a 50-day moving average of $14.53 and a two-hundred day moving average of $19.80. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.82 and a quick ratio of 3.82. The company has a market cap of $1.68 billion, a P/E ratio of -2.07 and a beta of 1.02. Biohaven has a 1-year low of $12.79 and a 1-year high of $55.70.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, August 11th. The company reported ($1.94) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($1.94). As a group, analysts anticipate 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.