Biohaven Ltd. (NYSE:BHVN - Get Free Report) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 10,820,000 shares, an increase of 32.4% from the May 15th total of 8,170,000 shares. Currently, 12.7% of the shares of the stock are sold short. Based on an average trading volume of 1,960,000 shares, the short-interest ratio is currently 5.5 days.
Analyst Upgrades and Downgrades
Several research firms have recently commented on BHVN. William Blair upgraded shares of Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. HC Wainwright reiterated a "buy" rating and set a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley cut their price target on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the company a "buy" rating in a research note on Thursday, March 20th. Finally, Cantor Fitzgerald raised Biohaven to a "strong-buy" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $58.46.
View Our Latest Research Report on Biohaven
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. SVB Wealth LLC bought a new stake in Biohaven during the first quarter valued at $25,000. Parallel Advisors LLC grew its holdings in shares of Biohaven by 319.8% during the first 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 last quarter. PNC Financial Services Group Inc. boosted 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 valued at $43,000 after purchasing an additional 623 shares during the period. IFP Advisors Inc increased its position in Biohaven by 84,800.0% in the first quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock worth $61,000 after buying an additional 2,544 shares during the period. Finally, Amalgamated Bank boosted its stake in Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company's stock valued at $109,000 after purchasing an additional 527 shares during the period. Institutional investors own 88.78% of the company's stock.
Biohaven Price Performance
Biohaven stock traded up $0.12 during midday trading on Friday, hitting $14.51. 2,788,578 shares of the stock were exchanged, compared to its average volume of 1,282,622. The company has a 50 day moving average price of $17.97 and a two-hundred day moving average price of $28.87. The firm has a market cap of $1.48 billion, a P/E ratio of -1.55 and a beta of 0.95. Biohaven has a 1 year low of $13.90 and a 1 year high of $55.70.
Biohaven (NYSE:BHVN - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). As a group, analysts predict that Biohaven will post -8.9 EPS for the current year.
About Biohaven
(
Get Free Report)
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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