Biohaven (NYSE:BHVN) Reaches New 12-Month Low - Should You Sell?

Biohaven Ltd. (NYSE:BHVN - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $13.69 and last traded at $13.90, with a volume of 148598 shares traded. The stock had previously closed at $13.93.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BHVN shares. Robert W. Baird cut their price target on shares of Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. William Blair raised shares of Biohaven to a "strong-buy" rating in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the stock a "buy" rating in a research note on Thursday, March 20th. Royal Bank Of Canada downgraded shares of Biohaven from an "outperform" rating to a "sector perform" rating and dropped their price target for the stock from $54.00 to $21.00 in a research note on Monday, May 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Biohaven from $68.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $58.46.

Biohaven Trading Up 1.8%

The firm has a market capitalization of $1.45 billion, a P/E ratio of -1.52 and a beta of 0.91. The company's fifty day simple moving average is $15.94 and its 200 day simple moving average is $25.87.

Biohaven (NYSE:BHVN - Get Free Report) last issued 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). On average, analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Institutional Trading of Biohaven

A number of large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its holdings in Biohaven by 40.0% in the fourth quarter. Ameriprise Financial Inc. now owns 508,682 shares of the company's stock worth $18,994,000 after purchasing an additional 145,331 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Biohaven by 31.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company's stock worth $871,000 after purchasing an additional 5,600 shares in the last quarter. American Century Companies Inc. raised its holdings in Biohaven by 9.5% in the fourth quarter. American Century Companies Inc. now owns 558,761 shares of the company's stock worth $20,870,000 after purchasing an additional 48,286 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Biohaven by 6.6% in the fourth quarter. Alliancebernstein L.P. now owns 96,236 shares of the company's stock worth $3,594,000 after purchasing an additional 5,951 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in Biohaven by 4.1% in the fourth quarter. LPL Financial LLC now owns 42,190 shares of the company's stock worth $1,576,000 after purchasing an additional 1,664 shares in 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.