Biohaven (NYSE:BHVN) Stock Price Up 10.2% – Here’s Why

Biohaven Ltd. (NYSE:BHVN) shares rose 10.2% during trading on Monday . The stock traded as high as $10.10 and last traded at $10.1040. Approximately 214,725 shares changed hands during trading, a decline of 92% from the average daily volume of 2,532,657 shares. The stock had previously closed at $9.17.

Analyst Ratings Changes

BHVN has been the subject of several analyst reports. Leerink Partners reissued an “outperform” rating and set a $15.00 target price on shares of Biohaven in a research note on Tuesday, March 3rd. William Blair reissued a “market perform” rating on shares of Biohaven in a research note on Friday, December 26th. Citigroup boosted their target price on Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Biohaven in a research note on Monday, December 29th. Finally, Canaccord Genuity Group initiated coverage on Biohaven in a research note on Monday. They set a “buy” rating and a $21.00 target price for the company. 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 assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.53.

Biohaven Trading Up 3.1%

The company has a 50-day moving average price of $10.26 and a 200-day moving average price of $11.54. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -1.50 and a beta of 1.34. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18.

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

Institutional Trading of Biohaven

Large investors have recently made changes to their positions in the company. Integral Health Asset Management LLC boosted its position 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 purchasing an additional 350,000 shares during the period. Capital Research Global Investors boosted its position 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 purchasing an additional 527,337 shares during the period. Aberdeen Group plc acquired a new stake in shares of Biohaven in the 4th quarter valued at about $7,829,000. SG Americas Securities LLC boosted its position in shares of Biohaven by 291.8% in the 4th quarter. SG Americas Securities LLC now owns 105,518 shares of the company’s stock valued at $1,191,000 after purchasing an additional 78,585 shares during the period. Finally, Prosight Management LP boosted its position in shares of Biohaven by 11.3% in the 3rd quarter. Prosight Management LP now owns 600,000 shares of the company’s stock valued at $9,006,000 after purchasing an additional 60,929 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

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.