Biohaven Ltd. (NYSE:BHVN) Receives Consensus Recommendation of "Buy" from Analysts

Key Points

• Biohaven Ltd. (NYSE:BHVN) has received a consensus recommendation of "Buy" from fifteen research firms, with the average 1-year price target set at $48.85.
• The stock opened at $14.99 and has recently experienced an increase of 8.5%.
• Analysts have recently adjusted their price targets for Biohaven, with estimates ranging from $28.00 to $54.00, showing mixed outlooks for the stock's performance.

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have received a consensus recommendation of "Buy" from the fifteen research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, eleven have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $48.8462.

A number of research firms have recently commented on BHVN. HC Wainwright reiterated a "buy" rating and set a $30.00 target price (down previously from $54.00) on shares of Biohaven in a research report on Tuesday, August 12th. Robert W. Baird cut their price target on Biohaven from $57.00 to $52.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. 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, August 12th. Citigroup initiated coverage on shares of Biohaven in a research report on Wednesday, September 17th. They set a "buy" rating and a $28.00 target price on the stock. Finally, Morgan Stanley cut their target price on shares of Biohaven from $63.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th.

Biohaven Trading Up 8.5%

Shares of Biohaven stock opened at $14.99 on Friday. The company has a current ratio of 3.82, a quick ratio of 3.82 and a debt-to-equity ratio of 1.91. The company has a fifty day simple moving average of $14.66 and a 200-day simple moving average of $17.31. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -1.96 and a beta of 1.02. Biohaven has a 12-month low of $12.79 and a 12-month high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($1.94) EPS for the quarter, hitting the consensus estimate of ($1.94). On average, equities analysts forecast that Biohaven will post -8.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Biohaven

A number of institutional investors and hedge funds have recently made changes to their positions in the business. SVB Wealth LLC purchased a new position in shares of Biohaven during the first quarter worth about $25,000. 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 acquiring an additional 1,036 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Biohaven by 53.7% during the 1st 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 during the period. IFP Advisors Inc grew its stake in shares of Biohaven by 84,800.0% in the 1st quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock valued at $61,000 after purchasing an additional 2,544 shares during the last quarter. Finally, Elkhorn Partners Limited Partnership grew its stake in shares of Biohaven by 26.1% in the 2nd quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company's stock valued at $82,000 after purchasing an additional 1,200 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

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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