Biohaven Ltd. (NYSE:BHVN) Receives Consensus Rating of "Buy" from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have received a consensus rating of "Buy" from the fifteen brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $58.46.

Several analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Biohaven from $68.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday. HC Wainwright reaffirmed a "buy" rating and set a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Cantor Fitzgerald upgraded Biohaven to a "strong-buy" rating in a research report on Tuesday, May 13th. Robert W. Baird decreased their price objective on Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Finally, Royal Bank Of Canada downgraded Biohaven from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $54.00 to $21.00 in a report on Monday, May 19th.

Institutional Investors Weigh In On Biohaven

Hedge funds have recently modified their holdings of the business. SVB Wealth LLC acquired a new position in shares of Biohaven in the 1st quarter valued at approximately $25,000. Parallel Advisors LLC lifted its stake in Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after buying an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Biohaven by 53.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock valued at $43,000 after buying an additional 623 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Biohaven by 84,800.0% in the first quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock valued at $61,000 after buying an additional 2,544 shares during the period. Finally, Amalgamated Bank increased its position in shares of Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after acquiring an additional 527 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

Biohaven Stock Performance

NYSE:BHVN opened at $14.38 on Friday. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -1.54 and a beta of 0.95. The stock's fifty day moving average price is $17.97 and its two-hundred day moving average price is $28.87. Biohaven has a 52-week low of $14.18 and a 52-week high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). On average, equities analysts predict that Biohaven will post -8.9 EPS for the current fiscal 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.

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