Biohaven Ltd. (NYSE:BHVN) Receives $21.62 Consensus Target Price from Brokerages

Biohaven Ltd. (NYSE:BHVN) has been given an average rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $21.6250.

Several brokerages have recently commented on BHVN. HC Wainwright restated a “neutral” rating and set a $10.00 price target on shares of Biohaven in a research note on Tuesday, May 26th. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a report on Wednesday, May 27th. Morgan Stanley cut their target price on shares of Biohaven from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Canaccord Genuity Group began coverage on shares of Biohaven in a report on Monday, April 13th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Needham & Company LLC set a $11.00 price target on shares of Biohaven in a research report on Monday, June 29th.

Hedge Funds Weigh In On Biohaven

A number of large investors have recently bought and sold shares of BHVN. Handelsbanken Fonder AB boosted its position in Biohaven by 85.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 67,700 shares of the company’s stock valued at $1,007,000 after acquiring an additional 31,100 shares in the last quarter. Constitution Capital LLC increased its holdings in shares of Biohaven by 58.8% in the 2nd quarter. Constitution Capital LLC now owns 27,000 shares of the company’s stock valued at $402,000 after acquiring an additional 10,000 shares during the period. Defilade Capital Management L.P. bought a new position in shares of Biohaven in the 1st quarter worth $2,673,000. Essential Partners LLC raised its position in shares of Biohaven by 31.7% in the 1st quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock worth $76,000 after acquiring an additional 2,169 shares in the last quarter. Finally, Stempoint Capital LP purchased a new stake in shares of Biohaven during the 1st quarter worth $13,489,000. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Up 1.2%

Shares of NYSE:BHVN opened at $14.50 on Friday. The business’s 50 day moving average is $13.23 and its 200 day moving average is $11.50. The stock has a market cap of $2.18 billion, a P/E ratio of -2.56 and a beta of 1.28. Biohaven has a 52-week low of $7.48 and a 52-week high of $18.57. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87.

Biohaven (NYSE:BHVN) last issued its 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 predict that Biohaven will post -3.1 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.