Biohaven (NYSE:BHVN) Shares Gap Up – Still a Buy?

Biohaven Ltd. (NYSE:BHVN) shares gapped up prior to trading on Monday . The stock had previously closed at $9.92, but opened at $11.89. Biohaven shares last traded at $9.5850, with a volume of 2,645,329 shares traded.

Analyst Ratings Changes

BHVN has been the topic of several analyst reports. HC Wainwright lowered their price target on Biohaven from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a research note on Monday, December 29th. Citigroup reiterated a “buy” rating on shares of Biohaven in a research note on Friday, December 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a report on Monday. Finally, William Blair reissued a “market perform” rating on shares of Biohaven in a research report on Friday, December 26th. Three equities research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.93.

Biohaven Stock Up 0.4%

The firm has a 50-day moving average price of $11.57 and a two-hundred day moving average price of $12.52. The company has a market capitalization of $1.08 billion, a P/E ratio of -1.47 and a beta of 1.15. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 4.59.

Biohaven (NYSE:BHVN) last announced its earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.01. Equities research analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Biohaven in the fourth quarter valued at about $81,000. Invesco Ltd. increased its stake in Biohaven by 59.0% during the fourth quarter. Invesco Ltd. now owns 194,751 shares of the company’s stock valued at $2,199,000 after acquiring an additional 72,230 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in Biohaven in the 4th quarter valued at approximately $342,000. XTX Topco Ltd raised its holdings in Biohaven by 31.1% in the 4th quarter. XTX Topco Ltd now owns 83,455 shares of the company’s stock valued at $942,000 after acquiring an additional 19,816 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its position in shares of Biohaven by 758.4% in the 4th quarter. Voloridge Investment Management LLC now owns 1,318,775 shares of the company’s stock worth $14,889,000 after acquiring an additional 1,165,137 shares during the period. Institutional investors and hedge funds 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.