Biohaven (NYSE:BHVN) Given New $30.00 Price Target at TD Cowen

Biohaven (NYSE:BHVN) had its price objective boosted by TD Cowen from $15.00 to $30.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

BHVN has been the subject of several other reports. Leerink Partners restated an “outperform” rating and set a $15.00 price objective on shares of Biohaven in a research report on Tuesday, March 3rd. UBS Group downgraded Biohaven from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $26.00 to $11.00 in a research report on Wednesday, November 26th. HC Wainwright cut their price target on Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Wednesday, March 4th. BTIG Research restated a “buy” rating and issued a $16.00 price objective on shares of Biohaven in a research report on Tuesday, November 18th. Finally, The Goldman Sachs Group raised Biohaven to a “strong-buy” rating in a research note on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Biohaven presently has an average rating of “Moderate Buy” and an average price target of $24.93.

Biohaven Stock Performance

NYSE:BHVN opened at $10.46 on Wednesday. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 4.59. The company has a market capitalization of $1.11 billion, a P/E ratio of -1.50 and a beta of 1.15. The firm has a 50-day moving average price of $11.56 and a two-hundred day moving average price of $12.50. Biohaven has a twelve month low of $7.48 and a twelve month high of $31.18.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.01. As a group, research analysts expect that Biohaven will post -8.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BHVN. Suvretta Capital Management LLC grew its position in shares of Biohaven by 83.0% in the fourth quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock valued at $116,140,000 after purchasing an additional 4,666,666 shares during the period. Stifel Financial Corp lifted its position in Biohaven by 50.3% during the fourth quarter. Stifel Financial Corp now owns 9,939,856 shares of the company’s stock worth $112,221,000 after buying an additional 3,328,506 shares during the period. Infinitum Asset Management LLC boosted its stake in Biohaven by 267.6% in the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock worth $70,562,000 after buying an additional 4,550,000 shares during the last quarter. State Street Corp boosted its stake in Biohaven by 34.2% in the 4th quarter. State Street Corp now owns 5,716,487 shares of the company’s stock worth $64,539,000 after buying an additional 1,458,204 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Biohaven by 52.9% in the 4th quarter. Vanguard Group Inc. now owns 4,395,946 shares of the company’s stock valued at $49,630,000 after buying an additional 1,520,756 shares during the period. Hedge funds and other institutional investors 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.