Biohaven (NYSE:BHVN) Stock Price Down 5.4% - Should You Sell?

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) dropped 5.4% on Friday . The company traded as low as $14.11 and last traded at $14.30. Approximately 697,257 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 1,620,383 shares. The stock had previously closed at $15.11.

Analyst Ratings Changes

A number of research firms recently commented on BHVN. William Blair upgraded Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. Robert W. Baird decreased their target price on Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Cantor Fitzgerald upgraded Biohaven to a "strong-buy" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their target price on Biohaven from $68.00 to $55.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Finally, Royal Bank Of Canada lowered Biohaven from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $54.00 to $21.00 in a research report on Monday, May 19th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $58.46.

Biohaven Price Performance

The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -1.50 and a beta of 0.91. The business has a fifty day moving average price of $15.31 and a 200 day moving average price of $25.15.

Biohaven (NYSE:BHVN - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.50). Research analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Institutional Investors Weigh In On Biohaven

Institutional investors have recently made changes to their positions in the company. SVB Wealth LLC bought a new position in Biohaven in the 1st quarter worth approximately $25,000. Parallel Advisors LLC grew its holdings in shares of Biohaven by 319.8% during the 1st quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock worth $33,000 after purchasing an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Biohaven by 53.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock worth $43,000 after purchasing an additional 623 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Biohaven by 84,800.0% during the 1st quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock worth $61,000 after purchasing an additional 2,544 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Biohaven by 35.0% during the 1st quarter. KBC Group NV now owns 4,560 shares of the company's stock worth $110,000 after purchasing an additional 1,183 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Company Profile

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.