Biohaven Ltd. (NYSE:BHVN) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Biohaven, with eight buy ratings, two strong-buy ratings, five holds and two sells. The average 12-month price target is $18.69, although targets range from $11 to $30.
• The FDA paused new patient enrollment in pivotal BHV-7000 epilepsy trials after rodent-study findings, raising safety concerns and potentially delaying development. Biohaven shares reportedly fell sharply as investors reassessed the program’s timing and commercial prospects.
• Biohaven reported a quarterly loss of $0.91 per share, missing the $0.76 consensus estimate. The stock opened at $12.76, while institutional investors and hedge funds own approximately 88.78% of outstanding shares.

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have received an average rating of "Moderate Buy" from the seventeen research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation, eight have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $18.6875.

A number of equities analysts have recently commented on BHVN shares. Needham & Company LLC set a $11.00 target price on shares of Biohaven in a report on Monday, June 29th. Morgan Stanley increased their price target on shares of Biohaven from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. TD Cowen reissued a "buy" rating on shares of Biohaven in a research report on Wednesday, August 26th. Weiss Ratings restated a "sell (e+)" rating on shares of Biohaven in a research note on Friday, August 28th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $30.00 target price on shares of Biohaven in a report on Wednesday, August 26th.

More Biohaven News

Here are the key news stories impacting Biohaven this week:

• Negative Sentiment: The FDA paused new patient enrollment in pivotal BHV-7000 trials following findings from rodent studies. The hold raises safety concerns, could delay the development timeline and increases the risk of additional regulatory requirements or changes to the program. Reuters article
• Negative Sentiment: The regulatory setback affects a key late-stage pipeline asset and adds to concerns surrounding Biohaven’s development execution. Analysts and coverage noted that a competing epilepsy drugmaker could benefit if BHV-7000’s progress is delayed. Barron's article
• Negative Sentiment: Market reports characterized the FDA action as a significant blow, with Biohaven shares falling sharply as investors reassessed the timing, probability of success and potential commercial value of the epilepsy program. MarketScreener article
• Neutral Sentiment: HC Wainwright reaffirmed its “Neutral” rating but reduced or maintained its price target at $10.00, implying roughly 21.6% downside from the cited $12.76 reference price. This signals limited near-term conviction while the regulatory issue is addressed.

Biohaven Price Performance

Shares of BHVN opened at $12.76 on Friday. Biohaven has a 1-year low of $7.48 and a 1-year high of $18.57. The stock has a market cap of $1.93 billion, a PE ratio of -2.75 and a beta of 1.28. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73. The firm has a fifty day moving average price of $14.73 and a 200 day moving average price of $12.11.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.15). As a group, sell-side analysts anticipate that Biohaven will post -3.33 EPS for the current year.

Institutional Investors Weigh In On Biohaven

Hedge funds have recently modified their holdings of the stock. Opaleye Management Inc. purchased a new stake in Biohaven in the 2nd quarter valued at approximately $1,159,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Biohaven in the second quarter valued at about $60,000. Engineers Gate Manager LP acquired a new stake in Biohaven during the 2nd quarter valued at $581,000. Integrated Wealth Concepts LLC boosted its stake in shares of Biohaven by 10.4% during the second quarter. Integrated Wealth Concepts LLC now owns 12,653 shares of the company's stock valued at $188,000 after acquiring an additional 1,189 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Biohaven by 1,525.3% during the second quarter. NewEdge Advisors LLC now owns 16,659 shares of the company's stock worth $248,000 after buying an additional 15,634 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Company Profile

Biohaven Ltd. is a clinical-stage biopharmaceutical company focused on developing therapies for neurological and immunological disorders. The company's research programs use a range of approaches, including small-molecule medicines, biologics and other targeted therapies, with the goal of addressing diseases that have limited or inadequate treatment options.

Biohaven's pipeline has included investigational treatments for conditions such as epilepsy, obsessive-compulsive disorder, neurodegenerative diseases, neuroinflammatory disorders and immune-mediated diseases.

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.