Biohaven (NYSE:BHVN) Earns Underperform Rating from Bank of America

Biohaven (NYSE:BHVN)‘s stock had its “underperform” rating restated by research analysts at Bank of America in a research note issued to investors on Monday,Benzinga reports. They currently have a $11.00 price objective on the stock, down from their previous price objective of $12.00. Bank of America‘s price target suggests a potential downside of 30.34% from the stock’s previous close.

A number of other equities analysts also recently weighed in on BHVN. HC Wainwright restated a “neutral” rating and issued a $10.00 target price on shares of Biohaven in a research note on Tuesday, May 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a report on Wednesday, May 27th. Leerink Partners reissued an “outperform” rating and issued a $15.00 price objective on shares of Biohaven in a research report on Tuesday, March 3rd. Wall Street Zen upgraded Biohaven from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Biohaven in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.33.

Biohaven Stock Down 0.2%

BHVN opened at $15.79 on Monday. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. The company’s 50-day moving average is $10.89 and its 200 day moving average is $10.83. Biohaven has a fifty-two week low of $7.48 and a fifty-two week high of $18.57. The firm has a market capitalization of $2.38 billion, a P/E ratio of -2.79 and a beta of 1.35.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). Research analysts expect that Biohaven will post -3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in shares of Biohaven by 49.4% during the first quarter. AQR Capital Management LLC now owns 114,849 shares of the company’s stock worth $2,761,000 after acquiring an additional 37,981 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Biohaven by 32.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company’s stock valued at $1,747,000 after purchasing an additional 17,562 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Biohaven by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company’s stock valued at $14,174,000 after purchasing an additional 41,040 shares in the last quarter. Intech Investment Management LLC raised its stake in shares of Biohaven by 80.3% during the 1st quarter. Intech Investment Management LLC now owns 61,598 shares of the company’s stock valued at $1,481,000 after purchasing an additional 27,433 shares during the period. Finally, Quantbot Technologies LP raised its stake in shares of Biohaven by 1,097.8% during the 2nd quarter. Quantbot Technologies LP now owns 8,840 shares of the company’s stock valued at $125,000 after purchasing an additional 8,102 shares during the period. 88.78% of the stock is currently 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.