Biohaven (NYSE:BHVN) Lowered to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Biohaven (NYSE:BHVN) from a "sell" to a "strong sell" rating in a report issued on Sunday.
• Despite that downgrade, MarketBeat's aggregated data shows a "Moderate Buy" consensus with an average target price of $22.53 and a mix of Strong Buy/Buy/Outperform ratings from other analysts.
• Shares opened at $9.86 (52‑week range $7.48–$24.06); Biohaven has negative EPS, a market cap of about $1.48 billion, and roughly 88.8% institutional ownership.

Biohaven (NYSE:BHVN - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Sunday.

Several other research firms have also commented on BHVN. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Biohaven in a research report on Monday, March 9th. Morgan Stanley reduced their price target on shares of Biohaven from $26.00 to $21.00 and set an "overweight" rating for the company in a research report on Tuesday, January 6th. The Goldman Sachs Group upgraded Biohaven to a "strong-buy" rating in a research note on Friday, February 6th. Royal Bank Of Canada boosted their price objective on Biohaven from $22.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. Finally, TD Cowen boosted their price objective on Biohaven from $15.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, March 11th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.53.

Biohaven Price Performance

NYSE BHVN opened at $9.86 on Friday. Biohaven has a 52 week low of $7.48 and a 52 week high of $24.06. The firm has a market capitalization of $1.48 billion, a P/E ratio of -1.42 and a beta of 1.34. The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 4.59. The company has a 50-day moving average price of $10.07 and a 200-day moving average price of $11.29.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported ($1.21) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.01. Equities research analysts anticipate that Biohaven will post -2.98 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust boosted its position in shares of Biohaven by 0.4% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 173,656 shares of the company's stock valued at $2,607,000 after acquiring an additional 657 shares during the last quarter. Sigma Planning Corp boosted its position in shares of Biohaven by 9.2% during the 4th quarter. Sigma Planning Corp now owns 13,613 shares of the company's stock valued at $154,000 after acquiring an additional 1,146 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company's stock valued at $36,000 after acquiring an additional 1,268 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Biohaven by 55.4% during 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 during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Biohaven by 1.3% during the 2nd quarter. Rafferty Asset Management LLC now owns 121,189 shares of the company's stock valued at $1,710,000 after acquiring an additional 1,503 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors.

About Biohaven

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.

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