Biohaven Ltd. (NYSE:BHVN - Get Free Report) shares dropped 6.2% during trading on Wednesday . The stock traded as low as $15.90 and last traded at $15.74. Approximately 1,182,757 shares changed hands during mid-day trading, a decline of 5% from the average daily volume of 1,247,259 shares. The stock had previously closed at $16.79.
Analyst Upgrades and Downgrades
BHVN has been the subject of several research analyst reports. HC Wainwright restated a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. William Blair upgraded shares of Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Royal Bank of Canada lowered shares of Biohaven from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $54.00 to $21.00 in a report on Monday, May 19th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the stock a "buy" rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Biohaven currently has an average rating of "Buy" and an average target price of $59.46.
View Our Latest Report on BHVN
Biohaven Price Performance
The company has a market cap of $1.58 billion, a P/E ratio of -1.66 and a beta of 0.95. The company's 50-day moving average is $18.28 and its two-hundred day moving average is $30.16.
Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). Equities research analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current year.
Institutional Investors Weigh In On Biohaven
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Biohaven by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock worth $314,267,000 after purchasing an additional 628,211 shares during the period. Janus Henderson Group PLC grew its position in shares of Biohaven by 12.1% during the 4th quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company's stock valued at $260,735,000 after acquiring an additional 756,032 shares during the period. Stifel Financial Corp grew its position in shares of Biohaven by 0.8% during the 4th quarter. Stifel Financial Corp now owns 6,559,313 shares of the company's stock valued at $244,990,000 after acquiring an additional 50,052 shares during the period. Suvretta Capital Management LLC grew its position in shares of Biohaven by 8.1% during the 4th quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company's stock valued at $209,917,000 after acquiring an additional 421,052 shares during the period. Finally, Farallon Capital Management LLC grew its position in shares of Biohaven by 21.6% during the 4th quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company's stock valued at $165,392,000 after acquiring an additional 785,578 shares during the period. Institutional investors own 88.78% of the company's stock.
About Biohaven
(
Get Free Report)
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.
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