Biohaven (NYSE:BHVN) Stock Price Target Raised at Canaccord Genuity Group

Key Points

• Canaccord Genuity raised Biohaven’s price target from $21 to $32 and maintained a “buy” rating, implying 107.62% upside from the prior close.
• Analyst sentiment is generally positive, with Biohaven holding a “Moderate Buy” consensus rating and an average price target of $19.94; recommendations include two Strong Buys and eight Buys.
• Biohaven opened at $15.41 and reported a quarterly loss of $0.91 per share, missing the $0.76 consensus estimate. Institutional investors own 88.78% of the company’s stock.

Biohaven (NYSE:BHVN - Get Free Report) had its price objective raised by Canaccord Genuity Group from $21.00 to $32.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's target price points to a potential upside of 107.62% from the company's previous close.

Several other brokerages also recently weighed in on BHVN. Royal Bank Of Canada increased their target price on shares of Biohaven from $19.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Friday, October 23rd. Citigroup reaffirmed a "buy" rating on shares of Biohaven in a research note on Friday, September 18th. Wall Street Zen upgraded Biohaven from a "sell" rating to a "hold" rating in a research note on Saturday, October 24th. Raymond James Financial reissued a "strong-buy" rating on shares of Biohaven in a report on Thursday, October 8th. Finally, Morgan Stanley lifted their price objective on shares of Biohaven from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $19.94.

Biohaven Stock Down 0.0%

BHVN opened at $15.41 on Friday. The business's 50-day simple moving average is $13.63 and its 200-day simple moving average is $12.24. The company has a debt-to-equity ratio of 21.23, a quick ratio of 3.05 and a current ratio of 3.05. Biohaven has a one year low of $7.48 and a one year high of $18.24. The stock has a market capitalization of $2.33 billion, a P/E ratio of -3.99 and a beta of 1.35.

Biohaven (NYSE:BHVN - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.76) by ($0.15). Analysts anticipate that Biohaven will post -3.03 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sterling Capital Management LLC lifted its holdings in Biohaven by 847.5% in the third quarter. Sterling Capital Management LLC now owns 4,444 shares of the company's stock valued at $59,000 after acquiring an additional 3,975 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Biohaven during the 2nd quarter worth $60,000. Essential Partners LLC increased its holdings in shares of Biohaven by 31.7% in the 1st quarter. Essential Partners LLC now owns 9,020 shares of the company's stock valued at $76,000 after purchasing an additional 2,169 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Biohaven by 43.3% in the 2nd quarter. IFP Advisors Inc now owns 6,011 shares of the company's stock valued at $89,000 after purchasing an additional 1,816 shares in the last quarter. Finally, Allworth Financial LP acquired a new stake in shares of Biohaven in the second quarter valued at about $117,000. Institutional investors and hedge funds own 88.78% of the company's stock.

About Biohaven

Biohaven Ltd. NYSE: BHVN is a biopharmaceutical company focused on discovering, developing and commercializing therapies for neurological and neuropsychiatric diseases, as well as certain immunological and rare disorders. The company's research activities include small-molecule medicines, monoclonal antibodies and other innovative therapeutic approaches.

Biohaven's pipeline has included investigational treatments for conditions such as migraine, obsessive-compulsive disorder, spinal muscular atrophy, amyotrophic lateral sclerosis, mood disorders and autoimmune diseases.

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