Biohaven Ltd. (NYSE:BHVN) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Biohaven Ltd. (NYSE:BHVN) has received a consensus rating of "Buy" from analysts, with twelve recommending buy, one holding, and two assigning a strong buy rating.
• The average 12-month price objective for Biohaven is $54.23, indicating potential for growth based on analysts' forecasts.
• Recent trading activity shows Biohaven shares opened at $15.89, with significant institutional investment, as hedge funds and institutions own 88.78% of the company.

Biohaven Ltd. (NYSE:BHVN - Get Free Report) has been given an average recommendation of "Buy" by the sixteen research firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and three have issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $55.7143.

BHVN has been the subject of a number of research analyst reports. Leerink Partners dropped their price target on shares of Biohaven from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. JPMorgan Chase & Co. dropped their target price on shares of Biohaven from $68.00 to $55.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Robert W. Baird reduced their price target on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Raymond James Financial raised Biohaven from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday. Finally, Bank of America reduced their target price on Biohaven from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th.

Hedge Funds Weigh In On Biohaven

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its position in shares of Biohaven by 53.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock valued at $43,000 after purchasing an additional 623 shares during the period. RWA Wealth Partners LLC boosted its stake in shares of Biohaven by 7.0% during the 1st quarter. RWA Wealth Partners LLC now owns 12,622 shares of the company's stock worth $303,000 after acquiring an additional 822 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Biohaven by 10.8% in the 4th quarter. Hsbc Holdings PLC now owns 10,361 shares of the company's stock valued at $380,000 after purchasing an additional 1,006 shares during the period. Lazard Asset Management LLC increased its position in shares of Biohaven by 47.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,207 shares of the company's stock worth $119,000 after acquiring an additional 1,031 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Biohaven by 319.8% during the 1st quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after purchasing an additional 1,036 shares during the period. 88.78% of the stock is owned by institutional investors.

Biohaven Stock Down 0.8%

Shares of NYSE BHVN traded down $0.13 during midday trading on Wednesday, reaching $16.08. 1,276,117 shares of the company's stock were exchanged, compared to its average volume of 1,708,448. The stock has a market capitalization of $1.70 billion, a PE ratio of -2.10 and a beta of 1.02. Biohaven has a 52-week low of $12.79 and a 52-week high of $55.70. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.82 and a current ratio of 3.82. The business's fifty day moving average price is $14.57 and its two-hundred day moving average price is $19.77.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported ($1.94) earnings per share for the quarter, meeting analysts' consensus estimates of ($1.94). Analysts forecast that Biohaven will post -8.9 EPS for the current year.

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.