HC Wainwright Reiterates Neutral Rating for Biohaven (NYSE:BHVN)

Biohaven (NYSE:BHVN)‘s stock had its “neutral” rating reiterated by stock analysts at HC Wainwright in a research report issued on Tuesday,Benzinga reports. They presently have a $10.00 target price on the stock. HC Wainwright’s target price suggests a potential downside of 1.96% from the company’s current price.

Several other research firms have also issued reports on BHVN. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a research note on Monday, March 9th. Canaccord Genuity Group assumed coverage on Biohaven in a research note on Monday, April 13th. They issued a “buy” rating and a $21.00 target price on the stock. Morgan Stanley cut their target price on Biohaven from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 13th. Royal Bank Of Canada cut their target price on Biohaven from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $15.00 target price on shares of Biohaven in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Biohaven has an average rating of “Moderate Buy” and a consensus target price of $22.27.

Biohaven Stock Up 7.9%

BHVN traded up $0.75 on Tuesday, hitting $10.20. The company had a trading volume of 1,009,714 shares, compared to its average volume of 2,351,293. The stock has a fifty day moving average price of $9.43 and a 200-day moving average price of $10.29. Biohaven has a 12-month low of $7.48 and a 12-month high of $18.57. 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 stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of -1.80 and a beta of 1.32.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Analysts predict that Biohaven will post -3 EPS for the current fiscal year.

Institutional Investors Weigh In On Biohaven

Large investors have recently modified their holdings of the business. Aberdeen Group plc purchased a new stake in shares of Biohaven during the fourth quarter worth about $7,829,000. Capital Research Global Investors grew its stake in shares of Biohaven by 108.9% during the third quarter. Capital Research Global Investors now owns 1,011,530 shares of the company’s stock worth $15,183,000 after acquiring an additional 527,337 shares during the last quarter. Integral Health Asset Management LLC grew its stake in shares of Biohaven by 116.7% during the third quarter. Integral Health Asset Management LLC now owns 650,000 shares of the company’s stock worth $9,756,000 after acquiring an additional 350,000 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of 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 acquiring an additional 78,585 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Biohaven by 484.7% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 133,900 shares of the company’s stock worth $1,512,000 after acquiring an additional 111,000 shares during the last quarter. Hedge funds and other 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.