Biohaven Ltd. (NYSE:BHVN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have earned an average recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, nine have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $25.5714.

BHVN has been the subject of several analyst reports. Robert W. Baird set a $42.00 price objective on shares of Biohaven in a report on Wednesday, November 5th. JPMorgan Chase & Co. dropped their target price on Biohaven from $47.00 to $15.00 and set an “overweight” rating on the stock in a research report on Thursday, November 20th. William Blair reiterated a “market perform” rating on shares of Biohaven in a research report on Friday, December 26th. Citigroup reiterated a “buy” rating on shares of Biohaven in a research note on Friday, December 26th. Finally, Morgan Stanley dropped their price objective on Biohaven from $26.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, January 6th.

Insider Activity

In other news, CAO George C. Clark bought 17,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $8.52 per share, with a total value of $144,840.00. Following the acquisition, the chief accounting officer owned 20,000 shares of the company’s stock, valued at approximately $170,400. The trade was a 566.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John W. Childs bought 3,333,333 shares of the stock in a transaction on Thursday, November 13th. The stock was purchased at an average price of $7.50 per share, for a total transaction of $24,999,997.50. Following the completion of the purchase, the director directly owned 5,653,904 shares in the company, valued at approximately $42,404,280. This represents a 143.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 4,416,999 shares of company stock valued at $33,144,833. Corporate insiders own 14.60% of the company’s stock.

Institutional Investors Weigh In On Biohaven

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC grew its position in Biohaven by 291.8% during the fourth quarter. SG Americas Securities LLC now owns 105,518 shares of the company’s stock worth $1,191,000 after buying an additional 78,585 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Biohaven during the 4th quarter valued at about $441,000. XTX Topco Ltd bought a new stake in shares of Biohaven during the 3rd quarter valued at about $955,000. Alyeska Investment Group L.P. bought a new position in shares of Biohaven in the third quarter worth approximately $3,002,000. Finally, Verition Fund Management LLC increased its position in shares of Biohaven by 19.4% in the third quarter. Verition Fund Management LLC now owns 146,180 shares of the company’s stock worth $2,194,000 after purchasing an additional 23,724 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Trading Up 6.9%

Shares of Biohaven stock opened at $11.88 on Tuesday. The stock has a market capitalization of $1.26 billion, a P/E ratio of -1.56 and a beta of 1.14. Biohaven has a 52-week low of $7.48 and a 52-week high of $44.28. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.86 and a current ratio of 2.86. The stock’s 50-day simple moving average is $10.06 and its 200 day simple moving average is $13.29.

Biohaven (NYSE:BHVN) last issued its earnings results on Monday, November 10th. The company reported ($1.64) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.27. As a group, research analysts anticipate that Biohaven will post -8.9 EPS for the current year.

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.