Biohaven Ltd. (NYSE:BHVN) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Biohaven has an average analyst rating of “Moderate Buy” from 18 analysts, with nine buy ratings and three strong-buy ratings. The average 12-month price target is about $22.47, well above the stock’s recent trading level.
• Recent analyst actions were mixed but generally positive, including new buy or outperform ratings from Canaccord Genuity, TD Cowen, RBC, and Leerink Partners. TD Cowen notably raised its price target from $15 to $30.
• Biohaven’s latest earnings missed expectations slightly, posting -$0.88 EPS versus the consensus estimate of -$0.86. The stock opened at $9.83, near its 50-day moving average and far below its 12-month high of $22.05.

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have been given an average rating of "Moderate Buy" by the eighteen analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, nine have assigned a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.4667.

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group began coverage on shares of Biohaven in a report on Monday, April 13th. They set a "buy" rating and a $21.00 target price for the company. Raymond James Financial restated a "strong-buy" rating on shares of Biohaven in a report on Monday, March 9th. TD Cowen raised their price target on Biohaven from $15.00 to $30.00 and gave the company a "buy" rating in a report on Wednesday, March 11th. Royal Bank Of Canada reduced their price target on Biohaven from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, May 5th. Finally, Leerink Partners restated an "outperform" rating and set a $15.00 price target on shares of Biohaven in a report on Tuesday, March 3rd.

Biohaven Stock Performance

Shares of BHVN stock opened at $9.83 on Monday. The company's fifty day moving average price is $9.81 and its 200-day moving average price is $10.93. Biohaven has a 12 month low of $7.48 and a 12 month high of $22.05. The stock has a market cap of $1.48 billion, a PE ratio of -1.73 and a beta of 1.32. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.87.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.02). On average, equities analysts expect that Biohaven will post -2.97 EPS for the current fiscal year.

Institutional Investors Weigh In On Biohaven

A number of institutional investors have recently made changes to their positions in BHVN. AQR Capital Management LLC grew its holdings in shares of Biohaven by 49.4% during the first quarter. AQR Capital Management LLC now owns 114,849 shares of the company's stock valued at $2,761,000 after buying an additional 37,981 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Biohaven by 32.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company's stock valued at $1,747,000 after buying an additional 17,562 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Biohaven by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company's stock valued at $14,174,000 after purchasing an additional 41,040 shares in the last quarter. Intech Investment Management LLC lifted its holdings in shares of Biohaven by 80.3% during the first quarter. Intech Investment Management LLC now owns 61,598 shares of the company's stock valued at $1,481,000 after purchasing an additional 27,433 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Biohaven by 1,097.8% during the second quarter. Quantbot Technologies LP now owns 8,840 shares of the company's stock valued at $125,000 after purchasing an additional 8,102 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company's stock.

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.

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