Biohaven (NYSE:BHVN) Shares Up 10.5% – What’s Next?

Biohaven Ltd. (NYSE:BHVN)’s share price shot up 10.5% during trading on Wednesday . The stock traded as high as $9.33 and last traded at $9.3450. 707,655 shares changed hands during trading, a decline of 73% from the average session volume of 2,608,490 shares. The stock had previously closed at $8.46.

Analyst Ratings Changes

Several brokerages recently issued reports on BHVN. HC Wainwright cut their price objective on Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company 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. TD Cowen upped their target price on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. The Goldman Sachs Group raised Biohaven to a “strong-buy” rating in a research note on Friday, February 6th. Finally, Citigroup reiterated a “buy” rating on shares of Biohaven in a report on Friday, December 26th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.43.

Biohaven Stock Performance

The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -1.39 and a beta of 1.15. The firm’s 50 day moving average is $10.84 and its 200-day moving average is $11.87. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in Biohaven by 113.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after purchasing an additional 1,268 shares during the last quarter. IFP Advisors Inc grew 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. EverSource Wealth Advisors LLC raised its position in shares of Biohaven by 178.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after purchasing an additional 2,583 shares during the period. Arax Advisory Partners raised its position in shares of Biohaven by 943.3% in 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 period. Finally, PFS Partners LLC acquired a new stake in shares of Biohaven in the third quarter worth $60,000. 88.78% of the stock is owned by institutional investors.

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.