Biohaven Ltd. (NYSE:BHVN) Given Average Recommendation of “Moderate Buy” by Brokerages

Biohaven Ltd. (NYSE:BHVN) has earned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $22.4286.

A number of brokerages have commented on BHVN. Morgan Stanley dropped their price objective on shares of Biohaven from $26.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, January 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a research report on Monday, December 29th. William Blair reaffirmed a “market perform” rating on shares of Biohaven in a report on Friday, December 26th. The Goldman Sachs Group upgraded Biohaven to a “strong-buy” rating in a research report on Friday, February 6th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a research note on Monday, March 9th.

Biohaven Stock Down 5.8%

NYSE BHVN opened at $8.40 on Friday. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18. The company has a market capitalization of $1.26 billion, a P/E ratio of -1.21 and a beta of 1.15. Biohaven has a one year low of $7.48 and a one year high of $28.50. The stock has a 50 day moving average price of $11.02 and a 200-day moving average price of $11.97.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.01. As a group, equities analysts predict that Biohaven will post -8.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Several large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in Biohaven by 113.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after buying an additional 1,268 shares during the last quarter. IFP Advisors Inc increased its position 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 acquiring an additional 1,450 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after acquiring an additional 2,583 shares during the last quarter. Arax Advisory Partners raised its stake 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 acquiring an additional 4,443 shares during the period. Finally, PFS Partners LLC purchased a new stake in shares of Biohaven in the third quarter valued at $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.