Biohaven (NYSE:BHVN) Stock Price Up 10.2% - What's Next?

Key Points

• Biohaven shares jumped 10.2% to about $10.10 in mid-day trading, but volume was light at ~214,725 shares — roughly 92% below the stock's average daily volume.
• Analysts are mixed but generally positive: MarketBeat shows a consensus of "Moderate Buy" with an average price target of $22.53, and individual targets ranging from about $10 to $30.
• The company has a market capitalization of about $1.54 billion, reported quarterly EPS of ($1.21) (slightly beating estimates), and a high debt-to-equity ratio of roughly 4.59, with institutional investors owning ~88.8% of shares.

Biohaven Ltd. (NYSE:BHVN - Get Free Report)'s share price rose 10.2% during mid-day trading on Monday . The company traded as high as $10.10 and last traded at $10.1040. Approximately 214,725 shares changed hands during trading, a decline of 92% from the average daily volume of 2,532,657 shares. The stock had previously closed at $9.17.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Raymond James Financial reissued a "strong-buy" rating on shares of Biohaven in a research report on Monday, March 9th. Leerink Partners reissued an "outperform" rating and issued a $15.00 price objective on shares of Biohaven in a research report on Tuesday, March 3rd. William Blair reissued a "market perform" rating on shares of Biohaven in a research report on Friday, December 26th. HC Wainwright reduced their price objective on Biohaven from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Wednesday, March 4th. Finally, TD Cowen increased their price objective on Biohaven from $15.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, March 11th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Biohaven currently has an average rating of "Moderate Buy" and an average target price of $22.53.

Biohaven Stock Up 11.5%

The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -1.47 and a beta of 1.34. The business has a 50 day moving average of $10.31 and a 200 day moving average of $11.60. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.18 and a quick ratio of 3.18.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings results 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. On average, equities analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust boosted its holdings in Biohaven by 0.4% during the third 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 in the last quarter. Sigma Planning Corp raised its holdings in shares of Biohaven by 9.2% in the 4th quarter. Sigma Planning Corp now owns 13,613 shares of the company's stock worth $154,000 after buying an additional 1,146 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Biohaven by 113.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company's stock worth $36,000 after buying an additional 1,268 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company's stock worth $46,000 after buying an additional 1,450 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in Biohaven by 1.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 121,189 shares of the company's stock valued at $1,710,000 after buying an additional 1,503 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

About Biohaven

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.