HC Wainwright Lowers Biohaven (NYSE:BHVN) Price Target to $10.00

Biohaven (NYSE:BHVN) had its price objective decreased by investment analysts at HC Wainwright from $11.00 to $10.00 in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a “neutral” rating on the stock. HC Wainwright’s target price suggests a potential downside of 3.01% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. TD Cowen reissued a “buy” rating on shares of Biohaven in a report on Wednesday, November 5th. Leerink Partners reiterated an “outperform” rating and set a $15.00 price target on shares of Biohaven in a research report on Tuesday. Sanford C. Bernstein reissued a “market perform” rating and set a $9.00 price target (down from $34.00) on shares of Biohaven in a research note on Thursday, November 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, November 5th. Finally, Robert W. Baird set a $42.00 target price on shares of Biohaven in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Biohaven currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.93.

Biohaven Stock Performance

NYSE BHVN opened at $10.31 on Wednesday. Biohaven has a 52-week low of $7.48 and a 52-week high of $31.80. The company has a fifty day moving average of $11.65 and a 200-day moving average of $12.66. The company has a market capitalization of $1.09 billion, a P/E ratio of -1.48 and a beta of 1.15. The company has a debt-to-equity ratio of 4.59, a quick ratio of 2.86 and a current ratio of 3.18.

Biohaven (NYSE:BHVN) last released 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. As a group, equities research analysts predict that Biohaven will post -8.9 EPS for the current fiscal year.

Institutional Trading of Biohaven

Institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings 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. IFP Advisors Inc lifted its holdings in Biohaven by 55.4% in the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after buying an additional 1,450 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Biohaven by 178.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after buying an additional 2,583 shares during the last quarter. Arax Advisory Partners increased its stake in shares of Biohaven by 943.3% during the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after buying an additional 4,443 shares during the period. Finally, PFS Partners LLC purchased a new position in shares of Biohaven during the third quarter valued at approximately $60,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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.