Royal Bank Of Canada Issues Positive Forecast for Biohaven (NYSE:BHVN) Stock Price

Biohaven (NYSE:BHVN) had its price target upped by Royal Bank Of Canada from $22.00 to $23.00 in a report released on Tuesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on BHVN. BTIG Research reiterated a “buy” rating and set a $16.00 target price on shares of Biohaven in a research report on Tuesday, November 18th. William Blair reaffirmed a “market perform” rating on shares of Biohaven in a research note on Friday, December 26th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $9.00 target price (down from $34.00) on shares of Biohaven in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a research report on Monday, December 29th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Biohaven Price Performance

Biohaven stock opened at $10.66 on Tuesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. The company has a market capitalization of $1.13 billion, a PE ratio of -1.53 and a beta of 1.15. Biohaven has a one year low of $7.48 and a one year high of $32.41. The business has a 50 day simple moving average of $11.59 and a 200 day simple moving average of $12.69.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01. On average, sell-side analysts forecast that Biohaven will post -8.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BHVN. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Biohaven by 0.4% during the third quarter. Emerald Mutual Fund Advisers Trust now owns 173,656 shares of the company’s stock valued at $2,607,000 after acquiring an additional 657 shares during the period. Sigma Planning Corp raised its holdings in Biohaven by 9.2% during the 4th quarter. Sigma Planning Corp now owns 13,613 shares of the company’s stock worth $154,000 after purchasing an additional 1,146 shares during the last quarter. Elkhorn Partners Limited Partnership raised its holdings in Biohaven by 26.1% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock worth $82,000 after purchasing an additional 1,200 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after purchasing an additional 1,268 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Biohaven by 5.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 25,288 shares of the company’s stock valued at $357,000 after purchasing an additional 1,383 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Company Profile

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.