Morgan Stanley Issues Positive Forecast for Biohaven (NYSE:BHVN) Stock Price

Key Points

• Morgan Stanley raised Biohaven’s price target from $19 to $21 and maintained an “overweight” rating, implying 36.59% potential upside from the stock’s $15.38 price.
• Analyst sentiment is mixed but leans positive: Biohaven has an average “Moderate Buy” rating and a $20.06 consensus price target, with recent targets ranging from $10 to $48.
• Institutional ownership is substantial at 88.78%, while Biohaven reported a quarterly EPS loss of $0.91, missing the consensus estimate of a $0.76 loss.

Biohaven (NYSE:BHVN - Get Free Report) had its target price boosted by Morgan Stanley from $19.00 to $21.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Morgan Stanley's price target indicates a potential upside of 36.59% from the company's current price.

Other research analysts have also issued reports about the company. HC Wainwright reissued a "neutral" rating and set a $10.00 price target on shares of Biohaven in a report on Thursday, September 10th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Biohaven in a report on Thursday, October 8th. Wall Street Zen upgraded shares of Biohaven from a "sell" rating to a "hold" rating in a research report on Saturday, October 24th. Robert W. Baird set a $48.00 target price on shares of Biohaven in a research note on Thursday, October 22nd. Finally, Canaccord Genuity Group boosted their price target on shares of Biohaven from $21.00 to $32.00 and gave the stock a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.06.

Biohaven Stock Performance

Shares of NYSE BHVN traded up $0.21 during midday trading on Tuesday, hitting $15.38. 887,336 shares of the company's stock were exchanged, compared to its average volume of 2,780,460. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73. The stock's 50 day moving average price is $13.65 and its 200-day moving average price is $12.26. The firm has a market cap of $2.32 billion, a P/E ratio of -3.98 and a beta of 1.35. Biohaven has a twelve month low of $7.48 and a twelve month high of $18.24.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings data 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). Equities research analysts anticipate that Biohaven will post -3.03 EPS for the current year.

Institutional Investors Weigh In On Biohaven

Hedge funds have recently bought and sold shares of the business. Janus Henderson Group PLC boosted its holdings in Biohaven by 1,145.9% in the first quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company's stock worth $148,214,000 after purchasing an additional 16,127,247 shares in the last quarter. BlackRock Inc. acquired a new position in Biohaven during the second quarter worth $196,574,000. Jupiter Topco LLC bought a new position in Biohaven during the second quarter valued at about $127,852,000. Stempoint Capital LP bought a new position in Biohaven during the first quarter valued at about $13,489,000. Finally, Bank of America Corp DE bought a new position in Biohaven during the second quarter valued at about $21,990,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Company Profile

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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