Biohaven (NYSE:BHVN) Price Target Lowered to $26.00 at UBS Group

Biohaven (NYSE:BHVN) had its price objective decreased by UBS Group from $27.00 to $26.00 in a research report released on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Leerink Partners reduced their target price on Biohaven from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Bank of America reduced their price objective on Biohaven from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Tuesday, August 12th. Robert W. Baird decreased their price objective on Biohaven from $57.00 to $52.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. JPMorgan Chase & Co. dropped their target price on Biohaven from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Wednesday, June 18th. Finally, Royal Bank Of Canada cut shares of Biohaven from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $54.00 to $21.00 in a report on Monday, May 19th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.50.

Biohaven Stock Down 1.6%

Shares of Biohaven stock opened at $13.52 on Tuesday. Biohaven has a 12-month low of $12.79 and a 12-month high of $55.70. The firm has a market capitalization of $1.43 billion, a PE ratio of -1.77 and a beta of 1.02. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 1.91. The stock’s fifty day moving average is $14.60 and its 200-day moving average is $18.18.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Monday, August 11th. The company reported ($1.94) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($1.94). Equities analysts anticipate that Biohaven will post -8.9 earnings per share for the current year.

Institutional Trading of Biohaven

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

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.