HC Wainwright Has Lowered Expectations for Biohaven (NYSE:BHVN) Stock Price

Biohaven (NYSE:BHVN) had its price target decreased by analysts at HC Wainwright from $11.00 to $10.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. HC Wainwright’s price objective suggests a potential downside of 6.19% from the company’s previous close.

Several other research analysts also recently commented on the stock. Sanford C. Bernstein restated a “market perform” rating and set a $9.00 price objective (down from $34.00) on shares of Biohaven in a research report on Thursday, November 6th. Robert W. Baird set a $42.00 price target on Biohaven in a report on Wednesday, November 5th. William Blair restated a “market perform” rating on shares of Biohaven in a research report on Friday, December 26th. Royal Bank Of Canada raised their price objective on Biohaven from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Bank of America cut Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a research report on Wednesday, November 5th. Three equities research 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.93.

Biohaven Stock Down 9.7%

BHVN opened at $10.66 on Wednesday. The stock has a fifty day moving average of $11.59 and a 200-day moving average of $12.69. The company has a market capitalization of $1.13 billion, a P/E ratio of -1.53 and a beta of 1.15. Biohaven has a fifty-two week low of $7.48 and a fifty-two week high of $32.41. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.86 and a current ratio of 2.86.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01. On average, equities analysts expect that Biohaven will post -8.9 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of Biohaven by 113.7% during the third 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 last quarter. IFP Advisors Inc boosted its position in shares of Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after purchasing an additional 1,450 shares in the last quarter. EverSource Wealth Advisors LLC grew its position 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 buying an additional 2,583 shares during the period. Arax Advisory Partners increased its stake in 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 purchasing an additional 4,443 shares in the last quarter. Finally, PFS Partners LLC bought a new stake in Biohaven in the 3rd quarter valued at about $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.