Biohaven (NYSE:BHVN) Trading Up 7% – What’s Next?

Biohaven Ltd. (NYSE:BHVN)’s share price traded up 7% on Friday . The company traded as high as $14.67 and last traded at $15.1660. Approximately 237,498 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 2,656,797 shares. The stock had previously closed at $14.17.

Analysts Set New Price Targets

BHVN has been the subject of a number of analyst reports. Bank of America reiterated an “underperform” rating and set a $11.00 price objective (down from $12.00) on shares of Biohaven in a report on Monday, June 29th. Citigroup raised their price target on shares of Biohaven from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. HC Wainwright reiterated a “neutral” rating and set a $10.00 price target on shares of Biohaven in a research note on Tuesday, May 26th. Wall Street Zen upgraded Biohaven from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Needham & Company LLC set a $11.00 price objective on Biohaven in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.62.

Biohaven Stock Up 9.1%

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 stock’s 50-day simple moving average is $12.54 and its 200-day simple moving average is $11.34. The firm has a market capitalization of $2.33 billion, a P/E ratio of -2.73 and a beta of 1.28.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, May 4th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). As a group, research analysts predict that Biohaven Ltd. will post -3.1 earnings per share for the current fiscal year.

Institutional Trading of Biohaven

A number of large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in Biohaven by 113.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after purchasing an additional 1,268 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Biohaven by 178.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after acquiring an additional 2,583 shares during the period. IFP Advisors Inc lifted its holdings in Biohaven by 55.4% during the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after purchasing an additional 1,450 shares during the last quarter. Arax Advisory Partners lifted its holdings in Biohaven by 943.3% during the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after purchasing an additional 4,443 shares during the last quarter. Finally, Focus Partners Wealth bought a new position in Biohaven during the third quarter worth about $87,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

About Biohaven

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.