Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) were up 9.5% on Thursday . The stock traded as high as $14.61 and last traded at $14.63. Approximately 303,130 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,307,919 shares. The stock had previously closed at $13.36.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on BHVN shares. Royal Bank Of Canada downgraded Biohaven from an "outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $54.00 to $21.00 in a report on Monday, May 19th. William Blair raised Biohaven to a "strong-buy" rating in a research note on Thursday, April 24th. Robert W. Baird lowered 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. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the stock a "buy" rating in a report on Thursday, March 20th. Finally, Cantor Fitzgerald upgraded Biohaven to a "strong-buy" rating in a report on Tuesday, May 13th. One research 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $58.46.
View Our Latest Stock Analysis on Biohaven
Biohaven Price Performance
The firm has a market cap of $1.55 billion, a P/E ratio of -1.62 and a beta of 0.91. The firm's 50 day moving average is $15.54 and its 200 day moving average is $25.54.
Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data 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). As a group, analysts expect that Biohaven Ltd. will post -8.9 EPS for the current year.
Hedge Funds Weigh In On Biohaven
Several institutional investors have recently bought and sold shares of BHVN. SVB Wealth LLC bought a new stake in shares of Biohaven in the 1st quarter worth about $25,000. Parallel Advisors LLC lifted its holdings in Biohaven by 319.8% during the 1st quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after buying an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Biohaven by 53.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock valued at $43,000 after buying an additional 623 shares in the last quarter. IFP Advisors Inc raised its holdings 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 raised its holdings 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. 88.78% of the stock is owned by hedge funds and other institutional investors.
Biohaven Company Profile
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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.
Further Reading
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