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

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus recommendation of “Buy” by the sixteen analysts that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $48.8462.

Several brokerages recently weighed in on BHVN. Citigroup assumed coverage on shares of Biohaven in a research report on Wednesday, September 17th. They issued a “buy” rating and a $28.00 price objective on the stock. UBS Group dropped their price target on shares of Biohaven from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Robert W. Baird dropped their target price on Biohaven from $57.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Bank of America dropped their price objective on Biohaven from $50.00 to $49.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price (down from $54.00) on shares of Biohaven in a report on Tuesday, August 12th.

Biohaven Trading Down 7.2%

Shares of NYSE BHVN opened at $16.46 on Thursday. The stock has a fifty day simple moving average of $15.31 and a 200-day simple moving average of $16.04. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $1.74 billion, a PE ratio of -2.15 and a beta of 1.03. Biohaven has a twelve month low of $12.79 and a twelve month high of $54.98.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Monday, August 11th. The company reported ($1.94) EPS for the quarter, hitting the consensus estimate of ($1.94). On average, equities analysts forecast 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. KBC Group NV boosted its position in shares of Biohaven by 35.0% during the 1st quarter. KBC Group NV now owns 4,560 shares of the company’s stock valued at $110,000 after acquiring an additional 1,183 shares in the last quarter. Fiera Capital Corp acquired a new stake in Biohaven during the 1st quarter valued at $13,983,000. New York State Common Retirement Fund raised its position in Biohaven by 589.9% in the 1st quarter. New York State Common Retirement Fund now owns 160,251 shares of the company’s stock valued at $3,852,000 after purchasing an additional 137,024 shares during the last quarter. Rhumbline Advisers boosted its stake in Biohaven by 6.2% in the first quarter. Rhumbline Advisers now owns 124,839 shares of the company’s stock worth $3,001,000 after purchasing an additional 7,244 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Biohaven by 32.1% in the first quarter. Invesco Ltd. now owns 68,460 shares of the company’s stock worth $1,646,000 after purchasing an additional 16,646 shares in the last quarter. Institutional investors and hedge funds 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.