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

Key Points

• Biohaven has a “Moderate Buy” consensus rating from 17 analysts: nine rate it a buy, two a strong buy, four a hold, and two a sell. The average 12-month price target is $21.75.
• Shares opened at $13.59, within a 52-week range of $7.48 to $18.57, giving the company a market capitalization of approximately $2.05 billion.
• Biohaven reported quarterly EPS of negative $0.91, missing the consensus estimate of negative $0.76; analysts expect a full-year loss of approximately $3.11 per share. Institutional investors own 88.78% of the stock.

Biohaven Ltd. (NYSE:BHVN - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the seventeen research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, nine have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.75.

A number of equities analysts have recently commented on BHVN shares. Bank of America reiterated an "underperform" rating and issued a $11.00 price objective (down from $12.00) on shares of Biohaven in a research note on Monday, June 29th. HC Wainwright restated a "neutral" rating and set a $10.00 target price on shares of Biohaven in a research note on Tuesday, May 26th. Needham & Company LLC set a $11.00 target price on Biohaven in a report on Monday, June 29th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Biohaven in a research report on Wednesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Biohaven in a report on Friday, June 26th.

Biohaven Price Performance

NYSE BHVN opened at $13.59 on Wednesday. Biohaven has a fifty-two week low of $7.48 and a fifty-two week high of $18.57. The stock's 50-day moving average is $14.44 and its two-hundred day moving average is $11.70. The firm has a market cap of $2.05 billion, a P/E ratio of -2.93 and a beta of 1.26. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.15). On average, analysts anticipate that Biohaven will post -3.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sigma Planning Corp boosted its position in shares of Biohaven by 9.2% in the 4th quarter. Sigma Planning Corp now owns 13,613 shares of the company's stock worth $154,000 after purchasing an additional 1,146 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Biohaven by 113.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company's stock worth $36,000 after purchasing an additional 1,268 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Biohaven by 55.4% in the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company's stock valued at $46,000 after acquiring an additional 1,450 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Biohaven by 1.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 121,189 shares of the company's stock valued at $1,710,000 after buying an additional 1,503 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Biohaven by 10.8% in the 4th quarter. ProShare Advisors LLC now owns 17,138 shares of the company's stock valued at $193,000 after purchasing an additional 1,669 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors.

Biohaven Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source