Biohaven Ltd. (NYSE:BHVN) Stock Has Consensus Price Target of $19.25

Key Points

• Analyst sentiment is moderately positive: Seventeen firms give Biohaven a consensus “Moderate Buy” rating, with an average 12-month price target of $19.25 versus the reported share price of $15.41.
• Institutional ownership remains high: Hedge funds and other institutional investors own 88.78% of Biohaven, with several investment firms increasing their positions during the third quarter.
• Recent financial results missed expectations: Biohaven reported a quarterly loss of $0.91 per share, wider than the $0.76 loss analysts expected, while analysts project a full-year loss of $3.03 per share.

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have received an average rating of "Moderate Buy" from the seventeen research firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $19.25.

A number of research firms recently issued reports on BHVN. Raymond James Financial restated a "strong-buy" rating on shares of Biohaven in a report on Thursday, October 8th. Weiss Ratings reissued a "sell (e+)" rating on shares of Biohaven in a research report on Friday, August 28th. Canaccord Genuity Group set a $21.00 price target on Biohaven in a research report on Friday, August 28th. Morgan Stanley lifted their price objective on shares of Biohaven from $18.00 to $19.00 and gave the company an "overweight" rating in a research report on Wednesday, August 12th. Finally, TD Cowen reiterated a "buy" rating on shares of Biohaven in a research report on Wednesday, August 26th.

Institutional Investors Weigh In On Biohaven

Several large investors have recently bought and sold shares of the stock. Profund Advisors LLC boosted its stake in Biohaven by 5.6% during the 3rd quarter. Profund Advisors LLC now owns 57,036 shares of the company's stock valued at $761,000 after purchasing an additional 3,018 shares in the last quarter. Sigma Planning Corp raised its holdings in Biohaven by 43.1% in the 3rd quarter. Sigma Planning Corp now owns 19,944 shares of the company's stock worth $266,000 after purchasing an additional 6,008 shares during the period. Sterling Capital Management LLC grew its stake in Biohaven by 847.5% in the third quarter. Sterling Capital Management LLC now owns 4,444 shares of the company's stock valued at $59,000 after purchasing an additional 3,975 shares during the last quarter. Inspire Investing LLC grew its holdings in Biohaven by 2.4% in the 3rd quarter. Inspire Investing LLC now owns 47,089 shares of the company's stock valued at $629,000 after buying an additional 1,113 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Biohaven by 12.9% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 17,500 shares of the company's stock worth $234,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company's stock.

Biohaven Stock Performance

NYSE BHVN opened at $15.41 on Monday. The business has a fifty day moving average of $13.63 and a 200-day moving average of $12.24. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 21.23. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -3.99 and a beta of 1.36. Biohaven has a fifty-two week low of $7.48 and a fifty-two week high of $18.24.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.76) by ($0.15). As a group, analysts predict that Biohaven will post -3.03 earnings per share for the current fiscal year.

About Biohaven

Biohaven Ltd. NYSE: BHVN is a biopharmaceutical company focused on discovering, developing and commercializing therapies for neurological and neuropsychiatric diseases, as well as certain immunological and rare disorders. The company's research activities include small-molecule medicines, monoclonal antibodies and other innovative therapeutic approaches.

Biohaven's pipeline has included investigational treatments for conditions such as migraine, obsessive-compulsive disorder, spinal muscular atrophy, amyotrophic lateral sclerosis, mood disorders and autoimmune diseases.

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