Brokerages Set Biohaven Ltd. (NYSE:BHVN) Price Target at $58.46

Biohaven Ltd. (NYSE:BHVN - Get Free Report) has earned a consensus rating of "Buy" from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $58.46.

Several brokerages recently weighed in on BHVN. Robert W. Baird cut their price target on Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. cut 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. Morgan Stanley cut their price objective on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. William Blair upgraded Biohaven to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, HC Wainwright reiterated a "buy" rating and set a $54.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BHVN. Ameriprise Financial Inc. increased its position in shares of Biohaven by 40.0% during the fourth quarter. Ameriprise Financial Inc. now owns 508,682 shares of the company's stock worth $18,994,000 after acquiring an additional 145,331 shares during the period. Teacher Retirement System of Texas increased its position in shares of Biohaven by 31.6% during the fourth quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company's stock worth $871,000 after acquiring an additional 5,600 shares during the period. Bank of New York Mellon Corp increased its position in shares of Biohaven by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company's stock worth $11,021,000 after acquiring an additional 24,703 shares during the period. American Century Companies Inc. increased its position in shares of Biohaven by 9.5% during the fourth quarter. American Century Companies Inc. now owns 558,761 shares of the company's stock worth $20,870,000 after acquiring an additional 48,286 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Biohaven by 6.6% during the fourth quarter. Alliancebernstein L.P. now owns 96,236 shares of the company's stock worth $3,594,000 after acquiring an additional 5,951 shares during the period. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Stock Performance

Shares of Biohaven stock traded down $0.03 on Friday, hitting $14.44. The company's stock had a trading volume of 1,375,865 shares, compared to its average volume of 1,275,950. Biohaven has a 1 year low of $13.87 and a 1 year high of $55.70. The firm has a fifty day moving average price of $17.82 and a 200-day moving average price of $28.24. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -1.54 and a beta of 0.95.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.50). As a group, 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.