Biohaven Ltd. (NYSE:BHVN) Short Interest Update

Biohaven Ltd. (NYSE:BHVN - Get Free Report) saw a large increase in short interest in 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 company are short sold. Based on an average trading volume of 1,960,000 shares, the short-interest ratio is currently 5.5 days.

Biohaven Price Performance

BHVN stock traded down $0.60 during trading on Tuesday, reaching $14.58. 2,075,559 shares of the company were exchanged, compared to its average volume of 1,271,072. The company has a 50-day moving average of $18.10 and a two-hundred day moving average of $29.19. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -1.56 and a beta of 0.95. Biohaven has a twelve month low of $14.33 and a twelve month high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data 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). On average, analysts forecast that Biohaven will post -8.9 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on BHVN. Robert W. Baird reduced their target price on shares of Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a report on Monday, April 28th. William Blair raised shares of Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Royal Bank Of Canada cut shares of Biohaven from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from $54.00 to $21.00 in a report on Monday, May 19th. Morgan Stanley lowered their target price on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Finally, Cantor Fitzgerald raised shares of Biohaven to a "strong-buy" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $59.46.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. SVB Wealth LLC bought a new stake in shares of Biohaven in the 1st quarter valued at $25,000. Parallel Advisors LLC boosted its stake in shares of Biohaven by 319.8% in the 1st 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 stake in shares of Biohaven by 53.7% in 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 last quarter. IFP Advisors Inc boosted 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, Amalgamated Bank boosted its stake in shares of Biohaven by 21.9% in 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 last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Company Profile

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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