Biohaven (NYSE:BHVN) Sets New 52-Week Low - Should You Sell?

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) reached a new 52-week low on Thursday . The company traded as low as $14.69 and last traded at $14.76, with a volume of 274027 shares. The stock had previously closed at $15.06.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Cantor Fitzgerald upgraded shares of Biohaven to a "strong-buy" rating in a report on Tuesday, May 13th. Robert W. Baird dropped their price target on Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. Royal Bank of Canada cut shares of Biohaven from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $54.00 to $21.00 in a report on Monday, May 19th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. One research 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's stock. According to data from MarketBeat, Biohaven currently has an average rating of "Buy" and an average target price of $59.46.

Biohaven Price Performance

The business has a fifty day moving average price of $19.56 and a two-hundred day moving average price of $31.82. The firm has a market cap of $1.51 billion, a PE ratio of -1.59 and a beta of 1.18.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). As a group, sell-side analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John W. Childs bought 32,700 shares of Biohaven stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the acquisition, the director now directly owns 2,320,571 shares of the company's stock, valued at approximately $70,707,798.37. The trade was a 1.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 16.00% of the company's stock.

Institutional Trading of Biohaven

A number of hedge funds have recently bought and sold shares of the business. SVB Wealth LLC bought a new stake in shares of Biohaven during the 1st quarter valued at about $25,000. Parallel Advisors LLC grew its holdings in shares of Biohaven by 319.8% during the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after buying an additional 1,036 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Biohaven by 53.7% during the first 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 period. Spire Wealth Management bought a new position in Biohaven in the 4th quarter worth $56,000. Finally, IFP Advisors Inc increased its stake in Biohaven by 84,800.0% in the 1st quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock worth $61,000 after buying an additional 2,544 shares in the last quarter. 88.78% of the stock is currently owned by 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.