Biohaven (NYSE:BHVN) Trading 5.2% Higher – What’s Next?

Biohaven Ltd. (NYSE:BHVN) traded up 5.2% during mid-day trading on Wednesday . The stock traded as high as $10.68 and last traded at $10.66. 529,410 shares changed hands during trading, a decline of 78% from the average session volume of 2,413,721 shares. The stock had previously closed at $10.13.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a research report on Wednesday, May 27th. Canaccord Genuity Group assumed coverage on Biohaven in a research report on Monday, April 13th. They set a “buy” rating and a $21.00 target price on the stock. Leerink Partners reiterated an “outperform” rating and set a $15.00 target price on shares of Biohaven in a research report on Tuesday, March 3rd. Royal Bank Of Canada dropped their target price on Biohaven from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Biohaven has an average rating of “Moderate Buy” and an average price target of $22.27.

Biohaven Trading Up 5.2%

The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -2.01 and a beta of 1.35. The company has a debt-to-equity ratio of 1.87, a quick ratio of 7.41 and a current ratio of 7.41. The business has a fifty day moving average of $9.70 and a two-hundred day moving average of $10.43.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Monday, May 4th. The company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). As a group, equities analysts expect that Biohaven Ltd. will post -3.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biohaven

A number of institutional investors and hedge funds have recently modified their holdings of BHVN. Janus Henderson Group PLC grew its holdings in shares of Biohaven by 1,145.9% in the 1st quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock worth $148,214,000 after acquiring an additional 16,127,247 shares during the period. Suvretta Capital Management LLC grew its holdings in Biohaven by 83.0% during the 4th quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock valued at $116,140,000 after buying an additional 4,666,666 shares during the last quarter. Infinitum Asset Management LLC grew its holdings in Biohaven by 267.6% during the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock valued at $70,562,000 after buying an additional 4,550,000 shares during the last quarter. Stifel Financial Corp grew its holdings in Biohaven by 50.3% during the 4th quarter. Stifel Financial Corp now owns 9,939,856 shares of the company’s stock valued at $112,221,000 after buying an additional 3,328,506 shares during the last quarter. Finally, Stempoint Capital LP acquired a new stake in Biohaven during the 1st quarter valued at $13,489,000. Institutional investors and hedge funds 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.