Biohaven (NYSE:BHVN) Trading Up 5.8% – Time to Buy?

Shares of Biohaven Ltd. (NYSE:BHVN) rose 5.8% on Wednesday . The company traded as high as $9.09 and last traded at $8.8750. Approximately 145,114 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 2,347,663 shares. The stock had previously closed at $8.39.

Analysts Set New Price Targets

BHVN has been the subject of a number of analyst reports. TD Cowen raised their price target on Biohaven from $15.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Royal Bank Of Canada decreased their price target on Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. The Goldman Sachs Group upgraded Biohaven to a “strong-buy” rating in a research note on Friday, February 6th. Raymond James Financial restated a “strong-buy” rating on shares of Biohaven in a research note on Monday, March 9th. Finally, HC Wainwright decreased their price target on Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.27.

Biohaven Stock Up 7.1%

The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of -1.59 and a beta of 1.32. The firm’s 50 day moving average price is $9.50 and its two-hundred day moving average price is $10.47. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.87.

Biohaven (NYSE:BHVN) last posted 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). Sell-side analysts anticipate that Biohaven Ltd. will post -2.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biohaven

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised 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 valued at $36,000 after acquiring an additional 1,268 shares during the period. IFP Advisors Inc raised its stake in Biohaven by 55.4% in 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 period. EverSource Wealth Advisors LLC lifted 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 worth $46,000 after acquiring an additional 2,583 shares during the last quarter. Arax Advisory Partners lifted its position in 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 acquiring an additional 4,443 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in Biohaven during the fourth quarter worth approximately $78,000. Institutional investors own 88.78% of the company’s stock.

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.