Biohaven Ltd. (NYSE:BHVN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $25.40.

BHVN has been the topic of several research reports. The Goldman Sachs Group raised Biohaven to a “strong-buy” rating in a research report on Friday, February 6th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a report on Wednesday, November 5th. HC Wainwright reiterated a “neutral” rating and issued a $11.00 price target on shares of Biohaven in a report on Friday, December 26th. UBS Group cut shares of Biohaven from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $11.00 in a research note on Wednesday, November 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Biohaven in a research note on Monday, December 29th.

Biohaven Stock Performance

Shares of Biohaven stock opened at $11.83 on Wednesday. The company has a 50 day moving average price of $11.55 and a 200 day moving average price of $12.80. The firm has a market capitalization of $1.25 billion, a P/E ratio of -1.56 and a beta of 1.14. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 1.91. Biohaven has a 52 week low of $7.48 and a 52 week high of $38.23.

Hedge Funds Weigh In On Biohaven

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BHVN. Suvretta Capital Management LLC lifted its holdings in shares of Biohaven by 83.0% in 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 last quarter. Stifel Financial Corp lifted its stake 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 purchasing an additional 3,328,506 shares in the last quarter. Infinitum Asset Management LLC raised its holdings in shares of Biohaven by 267.6% in the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock valued at $70,562,000 after buying an additional 4,550,000 shares during the period. State Street Corp lifted its holdings in Biohaven by 34.2% during 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 in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Biohaven by 52.9% during the 4th quarter. Vanguard Group Inc. now owns 4,395,946 shares of the company’s stock worth $49,630,000 after buying an additional 1,520,756 shares in the last quarter. 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.