Biohaven Ltd. (NYSE:BHVN) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $21.6250.

BHVN has been the topic of several recent research reports. Bank of America reaffirmed an “underperform” rating and issued a $11.00 price target (down from $12.00) on shares of Biohaven in a report on Monday, June 29th. Needham & Company LLC set a $11.00 price objective on Biohaven in a research note on Monday, June 29th. Morgan Stanley lowered their target price on Biohaven from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Biohaven in a research report on Friday, June 26th. Finally, Canaccord Genuity Group began coverage on Biohaven in a report on Monday, April 13th. They issued a “buy” rating and a $21.00 price target for the company.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $14.33 on Friday. Biohaven has a twelve month low of $7.48 and a twelve month high of $18.57. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.87. The company has a market cap of $2.16 billion, a PE ratio of -2.53 and a beta of 1.28. The company’s 50 day moving average is $13.11 and its 200 day moving average is $11.46.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). On average, sell-side analysts forecast that Biohaven will post -3.1 EPS for the current year.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in Biohaven by 1,145.9% during the first quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock valued at $148,214,000 after buying an additional 16,127,247 shares during the period. Suvretta Capital Management LLC raised 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 worth $116,140,000 after acquiring an additional 4,666,666 shares during the period. Infinitum Asset Management LLC boosted its stake in shares of Biohaven by 267.6% during the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock worth $70,562,000 after acquiring an additional 4,550,000 shares in the last quarter. Stifel Financial Corp grew its position in shares of Biohaven by 50.3% during the 4th 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 during the period. Finally, Stempoint Capital LP acquired a new stake in shares of Biohaven during the 1st quarter valued at about $13,489,000. 88.78% of the stock is 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.