Biohaven (NYSE:BHVN) Trading Down 4.6% - Here's Why

Key Points

• Biohaven Ltd. shares fell by 4.6% to $15.15, with trading volume declining by 90% from average levels, indicating potential investor concern.
• Several analysts have adjusted their price targets for Biohaven, with estimates ranging from $26.00 to $54.00, reflecting varied expectations on the company's performance.
• Biohaven currently holds a market capitalization of $1.61 billion and has a consensus rating of "Buy" with an average target price of $48.85.

Biohaven Ltd. (NYSE:BHVN - Get Free Report) shares traded down 4.6% on Tuesday . The stock traded as low as $15.36 and last traded at $15.15. 177,321 shares were traded during trading, a decline of 90% from the average session volume of 1,794,193 shares. The stock had previously closed at $15.88.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of Biohaven in a research report on Wednesday, September 17th. They set a "buy" rating and a $28.00 price objective for the company. UBS Group decreased their price objective on shares of Biohaven from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Tuesday, September 16th. Leerink Partners reduced their price target on shares of Biohaven from $60.00 to $50.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Robert W. Baird reduced their price target on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Finally, Morgan Stanley decreased their price objective on Biohaven from $63.00 to $54.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Biohaven currently has an average rating of "Buy" and a consensus target price of $48.85.

Biohaven Trading Down 4.2%

The firm has a market capitalization of $1.61 billion, a PE ratio of -1.98 and a beta of 1.03. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.82 and a quick ratio of 3.82. The firm's fifty day moving average is $14.87 and its two-hundred day moving average is $16.67.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($1.94) EPS for the quarter, hitting the consensus estimate of ($1.94). On average, equities analysts predict that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Institutional Trading of Biohaven

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. SVB Wealth LLC purchased a new stake in shares of Biohaven in the 1st quarter valued at $25,000. Parallel Advisors LLC boosted its stake in shares of Biohaven by 319.8% in the 1st quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after purchasing an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Biohaven by 53.7% in the 1st 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 in the last quarter. IFP Advisors Inc boosted its stake in shares of Biohaven by 84,800.0% in the 1st quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock valued at $61,000 after purchasing an additional 2,544 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Biohaven by 35.0% in the 1st quarter. KBC Group NV now owns 4,560 shares of the company's stock valued at $110,000 after purchasing an additional 1,183 shares in the last quarter. Institutional investors own 88.78% of the company's stock.

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.

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