Biohaven (NYSE:BHVN) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group started coverage on shares of Biohaven (NYSE:BHVN) in a research report released on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $21.00 price target on the stock.

A number of other equities research analysts also recently commented on BHVN. HC Wainwright dropped their price objective on shares of Biohaven from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. William Blair reissued a “market perform” rating on shares of Biohaven in a research report on Friday, December 26th. Morgan Stanley dropped their price objective on shares of Biohaven from $26.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 6th. Royal Bank Of Canada increased their price objective on shares of Biohaven from $22.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Finally, The Goldman Sachs Group raised shares of Biohaven to a “strong-buy” rating in a research report on Friday, February 6th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.53.

Biohaven Trading Up 10.1%

Shares of NYSE:BHVN opened at $10.10 on Monday. Biohaven has a 52 week low of $7.48 and a 52 week high of $24.06. The company’s 50 day moving average is $10.28 and its two-hundred day moving average is $11.57. 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 cap of $1.52 billion, a PE ratio of -1.45 and a beta of 1.34.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Integral Health Asset Management LLC boosted its holdings in shares of Biohaven by 116.7% in the 3rd quarter. Integral Health Asset Management LLC now owns 650,000 shares of the company’s stock valued at $9,756,000 after buying an additional 350,000 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Biohaven by 108.9% in the 3rd quarter. Capital Research Global Investors now owns 1,011,530 shares of the company’s stock valued at $15,183,000 after buying an additional 527,337 shares in the last quarter. Aberdeen Group plc acquired a new stake in Biohaven during the 4th quarter worth $7,829,000. SG Americas Securities LLC boosted its stake in Biohaven by 291.8% during the 4th quarter. SG Americas Securities LLC now owns 105,518 shares of the company’s stock worth $1,191,000 after purchasing an additional 78,585 shares during the period. Finally, Prosight Management LP boosted its stake in Biohaven by 11.3% during the 3rd quarter. Prosight Management LP now owns 600,000 shares of the company’s stock worth $9,006,000 after purchasing an additional 60,929 shares during the period. 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.