Biohaven (NYSE:BHVN) Shares Up 10.5% - Here's Why

Key Points

• 10.5% surge — Biohaven shares jumped to $9.345 mid-day on Wednesday (from a $8.46 close) with 707,655 shares traded, about 73% below its average session volume.
• Analysts remain constructive: the consensus rating is Moderate Buy with a $22.43 price target, and several firms raised targets recently (notably TD Cowen to $30 and RBC to $23).
• Fundamentals show a $1.45 billion market cap and negative P/E, with recent EPS of -$1.21 beating estimates by $0.01; the stock trades below its 50- and 200-day moving averages and is 88.78% owned by institutions.

Biohaven Ltd. (NYSE:BHVN - Get Free Report)'s share price shot up 10.5% during mid-day trading on Wednesday . The stock traded as high as $9.33 and last traded at $9.3450. 707,655 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 2,608,490 shares. The stock had previously closed at $8.46.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup reiterated a "buy" rating on shares of Biohaven in a research report on Friday, December 26th. Royal Bank Of Canada boosted their target price on Biohaven from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Biohaven in a report on Monday, March 9th. William Blair reiterated a "market perform" rating on shares of Biohaven in a research report on Friday, December 26th. Finally, TD Cowen boosted their price objective on Biohaven from $15.00 to $30.00 and gave the stock a "buy" rating in a report on Wednesday, March 11th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.43.

Biohaven Stock Up 14.1%

The business's 50 day moving average is $10.84 and its 200 day moving average is $11.87. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -1.39 and a beta of 1.15.

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

Institutional Investors Weigh In On Biohaven

A number of institutional investors have recently bought and sold shares of BHVN. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Biohaven by 0.4% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 173,656 shares of the company's stock valued at $2,607,000 after purchasing an additional 657 shares during the period. Sigma Planning Corp grew its position in Biohaven by 9.2% during the fourth quarter. Sigma Planning Corp now owns 13,613 shares of the company's stock valued at $154,000 after purchasing an additional 1,146 shares in the last quarter. Elkhorn Partners Limited Partnership grew its position in Biohaven by 26.1% during the second quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company's stock valued at $82,000 after purchasing an additional 1,200 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Biohaven by 113.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company's stock valued at $36,000 after buying an additional 1,268 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in Biohaven by 5.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 25,288 shares of the company's stock worth $357,000 after buying an additional 1,383 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

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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