Biohaven (NYSE:BHVN) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Biohaven (NYSE:BHVN) had its target price boosted by research analysts at Royal Bank Of Canada from $22.00 to $23.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 116.57% from the company’s previous close.

A number of other research firms have also recently weighed in on BHVN. UBS Group cut shares of Biohaven from a “buy” rating to a “neutral” rating and dropped their target price for the company from $26.00 to $11.00 in a research note on Wednesday, November 26th. The Goldman Sachs Group upgraded Biohaven to a “strong-buy” rating in a research note on Friday, February 6th. William Blair reissued a “market perform” rating on shares of Biohaven in a research report on Friday, December 26th. TD Cowen restated a “buy” rating on shares of Biohaven in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Biohaven in a research note on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Biohaven currently has a consensus rating of “Moderate Buy” and an average target price of $26.33.

Biohaven Stock Performance

Biohaven stock traded down $1.19 during mid-day trading on Tuesday, reaching $10.62. 529,726 shares of the company’s stock were exchanged, compared to its average volume of 2,593,567. The business’s fifty day simple moving average is $11.59 and its 200 day simple moving average is $12.73. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 1.91. Biohaven has a one year low of $7.48 and a one year high of $32.41. The firm has a market capitalization of $1.12 billion, a PE ratio of -1.40 and a beta of 1.15.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01. On average, sell-side analysts expect that Biohaven will post -8.9 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in Biohaven by 113.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after buying an additional 1,268 shares during the period. IFP Advisors Inc boosted its position in shares of Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after acquiring an additional 1,450 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after purchasing an additional 2,583 shares in the last quarter. Arax Advisory Partners grew its holdings in shares of Biohaven by 943.3% during the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock worth $55,000 after purchasing an additional 4,443 shares in the last quarter. Finally, PFS Partners LLC purchased a new stake in Biohaven in the third quarter valued at approximately $60,000. Institutional investors own 88.78% of the company’s stock.

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.