Biohaven (NYSE:BHVN) Shares Up 13.9% – Time to Buy?

Biohaven Ltd. (NYSE:BHVN)’s stock price was up 13.9% on Monday . The stock traded as high as $15.11 and last traded at $15.45. Approximately 731,049 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,558,744 shares. The stock had previously closed at $13.57.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. 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 cut Biohaven from a “sell” rating to a “strong sell” rating in a research report on Sunday, April 26th. Royal Bank Of Canada reduced their price target on Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Citigroup lifted their price target on Biohaven from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a report on Wednesday, May 27th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Biohaven currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.27.

Biohaven Stock Performance

The company has a market capitalization of $2.30 billion, a PE ratio of -2.70 and a beta of 1.35. The stock has a 50-day simple moving average of $10.35 and a 200 day simple moving average of $10.63. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, May 4th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Equities analysts anticipate that Biohaven Ltd. will post -3.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Biohaven

Hedge funds and other institutional investors have recently modified their holdings of the company. Defilade Capital Management L.P. acquired a new position in Biohaven in the 1st quarter valued at $2,673,000. Essential Partners LLC raised its holdings in shares of Biohaven by 31.7% in the 1st quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock worth $76,000 after purchasing an additional 2,169 shares during the period. Stempoint Capital LP acquired a new position in Biohaven during the first quarter valued at approximately $13,489,000. Janus Henderson Group PLC boosted its position in Biohaven by 1,145.9% during the 1st quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock worth $148,214,000 after purchasing an additional 16,127,247 shares during the period. Finally, ADAR1 Capital Management LLC grew its stake in shares of Biohaven by 30.6% in the first quarter. ADAR1 Capital Management LLC now owns 44,777 shares of the company’s stock valued at $379,000 after buying an additional 10,500 shares in the last quarter. 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.