Biohaven Ltd. (NYSE:BHVN) Receives $58.46 Average Price Target from Brokerages

Key Points

• Biohaven Ltd. has received a consensus rating of "Buy" from fifteen research firms, with one hold, twelve buys, and two strong buys.
• The average target price for Biohaven shares among analysts is $58.46, despite recent target adjustments by various firms.
• Institutional investors hold 88.78% of Biohaven's stock, reflecting strong institutional interest with several investors increasing their stakes recently.

Biohaven Ltd. (NYSE:BHVN - Get Free Report) has received a consensus rating of "Buy" from the fifteen research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $54.5385.

BHVN has been the topic of several research analyst reports. Robert W. Baird lowered their price target on Biohaven from $57.00 to $52.00 and set an "outperform" rating on the stock in a report on Tuesday. Cantor Fitzgerald upgraded Biohaven to a "strong-buy" rating in a research note on Tuesday, May 13th. Bank of America reduced their price objective on Biohaven from $50.00 to $49.00 and set a "buy" rating for the company in a research note on Tuesday. HC Wainwright restated a "buy" rating and issued a $30.00 price objective (down from $54.00) on shares of Biohaven in a research note on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective on Biohaven from $68.00 to $55.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th.

Biohaven Stock Performance

Shares of NYSE BHVN traded up $0.08 during midday trading on Friday, hitting $13.49. 1,346,000 shares of the stock traded hands, compared to its average volume of 1,676,022. The firm has a 50-day moving average of $14.65 and a two-hundred day moving average of $22.39. The firm has a market capitalization of $1.38 billion, a P/E ratio of -1.45 and a beta of 0.98. Biohaven has a one year low of $12.79 and a one year high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($1.94) earnings per share for the quarter, meeting the consensus estimate of ($1.94). Equities analysts forecast that Biohaven will post -8.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SVB Wealth LLC purchased a new position in Biohaven in the first quarter worth about $25,000. Parallel Advisors LLC grew its position in Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock worth $33,000 after acquiring an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Biohaven by 53.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock worth $43,000 after acquiring an additional 623 shares in the last quarter. IFP Advisors Inc grew its position in Biohaven by 84,800.0% in the first quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock worth $61,000 after acquiring an additional 2,544 shares in the last quarter. Finally, KBC Group NV grew its position in Biohaven by 35.0% in the first quarter. KBC Group NV now owns 4,560 shares of the company's stock worth $110,000 after acquiring an additional 1,183 shares in the last quarter. Institutional investors own 88.78% of the company's stock.

About Biohaven

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.