Biohaven (NYSE:BHVN - Get Free Report) had its price objective decreased by research analysts at JPMorgan Chase & Co. from $68.00 to $55.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 277.33% from the company's current price.
A number of other analysts have also issued reports on the stock. Robert W. Baird reduced their price target on shares of Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Biohaven and gave the stock a "buy" rating in a research report on Thursday, March 20th. Morgan Stanley decreased their target price on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. William Blair raised shares of Biohaven to a "strong-buy" rating in a research note on Thursday, April 24th. Finally, HC Wainwright reiterated a "buy" rating and set a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $58.46.
Get Our Latest Stock Report on BHVN
Biohaven Stock Down 4.0%
BHVN opened at $14.58 on Wednesday. The firm has a market capitalization of $1.49 billion, a P/E ratio of -1.56 and a beta of 0.95. The stock has a fifty day moving average of $18.10 and a 200-day moving average of $29.19. Biohaven has a 12-month low of $14.33 and a 12-month high of $55.70.
Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.50). On average, analysts expect that Biohaven will post -8.9 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Biohaven
Institutional investors have recently modified their holdings of the company. SVB Wealth LLC acquired a new stake in Biohaven in the 1st quarter valued at approximately $25,000. Parallel Advisors LLC boosted its position in shares of Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock valued at $33,000 after acquiring an additional 1,036 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Biohaven by 53.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company's stock valued at $43,000 after acquiring an additional 623 shares during the period. IFP Advisors Inc grew its stake in shares of Biohaven by 84,800.0% in the first quarter. IFP Advisors Inc now owns 2,547 shares of the company's stock worth $61,000 after acquiring an additional 2,544 shares during the last quarter. Finally, Amalgamated Bank increased its position in Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after acquiring an additional 527 shares during the period. Institutional investors own 88.78% of the company's stock.
About Biohaven
(
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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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