Citigroup Boosts Biohaven (NYSE:BHVN) Price Target to $17.00

Biohaven (NYSE:BHVN) had its target price lifted by stock analysts at Citigroup from $14.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 73.59% from the stock’s previous close.

BHVN has been the topic of several other research reports. HC Wainwright lowered their target price on shares of Biohaven from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 4th. TD Cowen upped their target price on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Royal Bank Of Canada increased their price target on Biohaven from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biohaven in a research report on Monday, December 29th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a research note on Monday, March 9th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.64.

Biohaven Stock Performance

Biohaven stock opened at $9.79 on Thursday. Biohaven has a 52 week low of $7.48 and a 52 week high of $24.06. 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 stock has a market cap of $1.47 billion, a P/E ratio of -1.41 and a beta of 1.34. The stock has a 50 day moving average of $10.62 and a 200-day moving average of $11.81.

Biohaven (NYSE:BHVN) last posted 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. On average, analysts expect that Biohaven will post -8.9 EPS for the current fiscal year.

Institutional Trading of Biohaven

Hedge funds and other institutional investors have recently modified their holdings of the business. Suvretta Capital Management LLC boosted its position in Biohaven by 83.0% during the 4th quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock worth $116,140,000 after acquiring an additional 4,666,666 shares during the period. Stifel Financial Corp raised 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 valued at $112,221,000 after acquiring an additional 3,328,506 shares in the last quarter. Infinitum Asset Management LLC raised its position in Biohaven by 267.6% during the fourth quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock valued at $70,562,000 after acquiring an additional 4,550,000 shares in the last quarter. State Street Corp lifted its stake in Biohaven by 34.2% in the fourth quarter. State Street Corp now owns 5,716,487 shares of the company’s stock valued at $64,539,000 after acquiring an additional 1,458,204 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Biohaven by 52.9% during the fourth 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 in 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.