Biohaven (NYSE:BHVN) Now Covered by Canaccord Genuity Group

Key Points

• Canaccord Genuity initiated coverage on Biohaven (BHVN) with a Buy rating and a $21 price target, implying roughly a 128.8% upside from the prior close.
• Analyst consensus is a Moderate Buy with an average price target of $22.53, though ratings are mixed (3 Strong Buy, 9 Buy, 5 Hold, 1 Sell).
• Shares opened at $9.18 with a market cap of about $1.38B and a 1‑year range of $7.48–$24.06, but the company is loss‑making (negative EPS; est. -8.9 for the year) and has a high debt‑to‑equity ratio (4.59), indicating elevated financial risk.

Equities researchers at Canaccord Genuity Group initiated coverage on shares of Biohaven (NYSE:BHVN - Get Free Report) in a research note issued on Monday. The firm set a "buy" rating and a $21.00 price target on the stock. Canaccord Genuity Group's target price suggests a potential upside of 128.83% from the stock's previous close.

Several other research firms also recently issued reports on BHVN. Morgan Stanley decreased their price objective on shares of Biohaven from $26.00 to $21.00 and set an "overweight" rating for the company in a research note on Tuesday, January 6th. Citigroup increased their target price on shares of Biohaven from $14.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. William Blair reiterated a "market perform" rating on shares of Biohaven in a research note on Friday, December 26th. TD Cowen increased their target price on shares of Biohaven from $15.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, March 11th. Finally, Raymond James Financial reiterated a "strong-buy" rating on shares of Biohaven in a research note on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $22.53.

Biohaven Stock Performance

NYSE BHVN opened at $9.18 on Monday. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.18 and a quick ratio of 3.18. Biohaven has a 1 year low of $7.48 and a 1 year high of $24.06. The company has a market capitalization of $1.38 billion, a PE ratio of -1.32 and a beta of 1.34. The company has a fifty day moving average of $10.31 and a two-hundred day moving average of $11.60.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.22) by $0.01. As a group, analysts expect that Biohaven will post -8.9 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC purchased a new position in Biohaven during the fourth quarter worth about $282,000. Caitong International Asset Management Co. Ltd purchased a new position in Biohaven during the fourth quarter worth about $81,000. Invesco Ltd. raised its holdings in Biohaven by 59.0% during the fourth quarter. Invesco Ltd. now owns 194,751 shares of the company's stock worth $2,199,000 after purchasing an additional 72,230 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Biohaven during the fourth quarter worth about $342,000. Finally, XTX Topco Ltd raised its holdings in Biohaven by 31.1% during the fourth quarter. XTX Topco Ltd now owns 83,455 shares of the company's stock worth $942,000 after purchasing an additional 19,816 shares in the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Company Profile

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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