Biohaven (NYSE:BHVN) Trading Down 5.3% – Time to Sell?

Biohaven Ltd. (NYSE:BHVN)’s share price fell 5.3% on Monday . The company traded as low as $9.34 and last traded at $9.2850. 504,931 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 2,621,977 shares. The stock had previously closed at $9.80.

Analysts Set New Price Targets

BHVN has been the topic of several recent research reports. Citigroup increased their target price on Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a research report on Monday, March 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Biohaven in a report on Monday, December 29th. Royal Bank Of Canada raised their target price on Biohaven from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Finally, William Blair reaffirmed a “market perform” rating on shares of Biohaven in a report on Friday, December 26th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.64.

Biohaven Price Performance

The stock has a market capitalization of $1.41 billion, a PE ratio of -1.34 and a beta of 1.34. The business’s 50-day moving average price is $10.48 and its 200 day moving average price is $11.70. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.01. Research analysts forecast that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Institutional Investors Weigh In On Biohaven

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in Biohaven by 113.7% in the 3rd 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 in the last quarter. PFS Partners LLC purchased a new stake in shares of Biohaven during the 3rd quarter valued at $60,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Biohaven by 178.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after acquiring an additional 2,583 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after acquiring an additional 1,450 shares during the last quarter. Finally, Arax Advisory Partners grew its position in Biohaven by 943.3% in the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock worth $55,000 after acquiring an additional 4,443 shares in the last quarter. 88.78% of the stock is 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.