Biohaven (NYSE:BHVN) Upgraded by Wall Street Zen to Sell Rating

Key Points

• Wall Street Zen upgraded Biohaven from a "strong sell" to a "sell" rating, signaling a modestly less negative view on the stock.
• Broader analyst coverage remains positive with a consensus rating of "Moderate Buy", a consensus target price of $22.53, and a mix of 3 Strong Buy, 9 Buy, 5 Hold and 1 Sell recommendations.
• Shares trade near $11 (52-week range $7.48–$24.06) with a $1.65B market cap; the company reported Q EPS of ($1.21) (beating estimates by $0.01) while sell-side analysts forecast roughly –8.9 EPS for the year.

Biohaven (NYSE:BHVN - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other equities analysts have also commented on the stock. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Biohaven in a research report on Monday, March 9th. William Blair reaffirmed a "market perform" rating on shares of Biohaven in a research report on Friday, December 26th. The Goldman Sachs Group raised shares of Biohaven to a "strong-buy" rating in a research report on Friday, February 6th. Royal Bank Of Canada raised their price target on shares of Biohaven from $22.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. Finally, HC Wainwright lowered their price target on shares of Biohaven from $11.00 to $10.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 4th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.53.

Biohaven Price Performance

NYSE:BHVN opened at $11.00 on Friday. Biohaven has a 52 week low of $7.48 and a 52 week high of $24.06. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of -1.58 and a beta of 1.34. The firm's 50-day simple moving average is $10.22 and its 200 day simple moving average is $11.49. The company has a debt-to-equity ratio of 4.59, a quick ratio of 3.18 and a current ratio of 3.18.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported ($1.21) EPS for the quarter, topping analysts' consensus estimates of ($1.22) by $0.01. As a group, sell-side analysts predict that Biohaven will post -8.9 earnings per share for the current year.

Institutional Investors Weigh In On Biohaven

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its position in Biohaven by 113.7% during 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 during the period. PFS Partners LLC acquired a new stake in Biohaven during the 3rd quarter worth approximately $60,000. EverSource Wealth Advisors LLC boosted its position in Biohaven by 178.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company's stock worth $46,000 after buying an additional 2,583 shares during the period. IFP Advisors Inc boosted its position in 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, Arax Advisory Partners boosted its position in Biohaven by 943.3% during the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company's stock worth $55,000 after buying an additional 4,443 shares during the period. 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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