Biohaven’s (BHVN) “Neutral” Rating Reiterated at HC Wainwright

HC Wainwright restated their neutral rating on shares of Biohaven (NYSE:BHVN) in a report issued on Thursday morning,Benzinga reports. They currently have a $10.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on BHVN. TD Cowen reiterated a “buy” rating on shares of Biohaven in a research note on Wednesday, August 26th. Bank of America reissued an “underperform” rating and issued a $11.00 target price (down from $12.00) on shares of Biohaven in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Biohaven in a report on Friday, June 26th. Wall Street Zen raised shares of Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Needham & Company LLC set a $11.00 price target on shares of Biohaven in a research note on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

Biohaven Price Performance

Shares of NYSE BHVN opened at $12.76 on Thursday. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -2.75 and a beta of 1.28. The business has a 50-day moving average of $14.73 and a 200-day moving average of $12.11. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73. Biohaven has a fifty-two week low of $7.48 and a fifty-two week high of $18.57.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.15). As a group, sell-side analysts predict that Biohaven will post -3.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after acquiring an additional 1,268 shares in the last quarter. IFP Advisors Inc lifted its stake in Biohaven by 55.4% during the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after purchasing an additional 1,450 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Biohaven by 178.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after purchasing an additional 2,583 shares in the last quarter. Arax Advisory Partners increased its stake in shares of Biohaven by 943.3% in the 4th 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 during the last quarter. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Biohaven in the 2nd quarter valued at $60,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Biohaven

Here are the key news stories impacting Biohaven this week:

• Negative Sentiment: The FDA paused new patient enrollment in pivotal BHV-7000 trials following findings from rodent studies. The hold raises safety concerns, could delay the development timeline and increases the risk of additional regulatory requirements or changes to the program. Reuters article
• Negative Sentiment: The regulatory setback affects a key late-stage pipeline asset and adds to concerns surrounding Biohaven’s development execution. Analysts and coverage noted that a competing epilepsy drugmaker could benefit if BHV-7000’s progress is delayed. Barron’s article
• Negative Sentiment: Market reports characterized the FDA action as a significant blow, with Biohaven shares falling sharply as investors reassessed the timing, probability of success and potential commercial value of the epilepsy program. MarketScreener article
• Neutral Sentiment: HC Wainwright reaffirmed its “Neutral” rating but reduced or maintained its price target at $10.00, implying roughly 21.6% downside from the cited $12.76 reference price. This signals limited near-term conviction while the regulatory issue is addressed.

Biohaven Company Profile

Biohaven Ltd. is a clinical-stage biopharmaceutical company focused on developing therapies for neurological and immunological disorders. The company’s research programs use a range of approaches, including small-molecule medicines, biologics and other targeted therapies, with the goal of addressing diseases that have limited or inadequate treatment options.

Biohaven’s pipeline has included investigational treatments for conditions such as epilepsy, obsessive-compulsive disorder, neurodegenerative diseases, neuroinflammatory disorders and immune-mediated diseases.