Biohaven (NYSE:BHVN) Price Target Cut to $22.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut its price target for Biohaven from $23 to $22 while keeping an "outperform" rating, a target that implies roughly a 137.61% upside from the stock's current level.
• Analyst coverage is mixed but leans positive — the consensus rating is Moderate Buy with a consensus target of $22.47, ranging from Strong Buy to Sell across firms.
• Biohaven shares trade around $9.26 (market cap ≈ $1.39 billion), the company has negative earnings per share and about 88.8% institutional ownership.

Biohaven (NYSE:BHVN - Get Free Report) had its price target lowered by analysts at Royal Bank Of Canada from $23.00 to $22.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective would suggest a potential upside of 137.61% from the stock's current price.

BHVN has been the subject of a number of other research reports. Raymond James Financial reissued a "strong-buy" rating on shares of Biohaven in a research note on Monday, March 9th. The Goldman Sachs Group raised shares of Biohaven to a "strong-buy" rating in a research note on Friday, February 6th. Leerink Partners reissued an "outperform" rating and set a $15.00 target price on shares of Biohaven in a research note on Tuesday, March 3rd. Canaccord Genuity Group assumed coverage on shares of Biohaven in a research note on Monday, April 13th. They set a "buy" rating and a $21.00 target price for the company. Finally, TD Cowen boosted 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. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.47.

Biohaven Price Performance

Shares of Biohaven stock traded down $0.88 during trading hours on Tuesday, reaching $9.26. The stock had a trading volume of 2,009,648 shares, compared to its average volume of 2,406,802. The stock's 50 day moving average is $9.91 and its 200 day moving average is $11.07. The firm has a market capitalization of $1.39 billion, a PE ratio of -1.33 and a beta of 1.32. Biohaven has a twelve month low of $7.48 and a twelve month high of $22.22. The company has a current ratio of 3.18, a quick ratio of 3.18 and a debt-to-equity ratio of 4.59.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share for the quarter, topping analysts' consensus estimates of ($1.22) by $0.01. Equities analysts expect that Biohaven will post -2.98 earnings per share for the current fiscal year.

Institutional Trading of Biohaven

Several large investors have recently bought and sold shares of the business. Emerald Mutual Fund Advisers Trust grew its stake in 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 in the last quarter. Sigma Planning Corp grew its stake in 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 in the last quarter. PNC Financial Services Group Inc. grew its stake in 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 in the last quarter. IFP Advisors Inc grew its stake in 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 in the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Biohaven by 1.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 121,189 shares of the company's stock worth $1,710,000 after acquiring an additional 1,503 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company's stock.

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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