Biohaven (NYSE:BHVN) Shares Climb 5.7% - Here's Why

Key Points

• Biohaven shares rose 5.7% to about $11.40, although trading volume was 88% below the stock’s average session volume.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $18.69, despite mixed individual ratings and targets.
• Biohaven reported a quarterly loss of $0.91 per share, missing the $0.76 consensus estimate; institutional investors own approximately 88.78% of the company.

Biohaven Ltd. (NYSE:BHVN - Get Free Report) rose 5.7% on Monday. The stock traded as high as $11.37 and last traded at $11.3980. 315,744 shares were traded during trading, a decline of 88% from the average session volume of 2,648,833 shares. The stock had previously closed at $10.78.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BHVN shares. Royal Bank Of Canada cut shares of Biohaven from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $23.00 to $19.00 in a report on Tuesday, September 8th. Morgan Stanley lifted their price objective on Biohaven from $18.00 to $19.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Needham & Company LLC set a $11.00 price objective on Biohaven in a research report on Monday, June 29th. Weiss Ratings restated a "sell (e+)" rating on shares of Biohaven in a research note on Friday, August 28th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Biohaven in a research note on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Biohaven has an average rating of "Moderate Buy" and a consensus price target of $18.69.

Biohaven Stock Up 5.4%

The company has a debt-to-equity ratio of 21.23, a quick ratio of 4.73 and a current ratio of 4.73. The firm's 50-day simple moving average is $13.70 and its two-hundred day simple moving average is $12.61. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -2.45 and a beta of 1.35.

Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results 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). On average, sell-side analysts expect that Biohaven Ltd. will post -3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BlueCrest Capital Management Ltd acquired a new stake in Biohaven in the second quarter valued at $60,000. Essential Partners LLC grew its holdings in Biohaven by 31.7% during the first quarter. Essential Partners LLC now owns 9,020 shares of the company's stock worth $76,000 after purchasing an additional 2,169 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in Biohaven in the fourth quarter valued at approximately $81,000. IFP Advisors Inc lifted its position in shares of Biohaven by 43.3% in the second quarter. IFP Advisors Inc now owns 6,011 shares of the company's stock valued at $89,000 after buying an additional 1,816 shares during the last quarter. Finally, 4WEALTH Advisors Inc. bought a new position in shares of Biohaven during the 1st quarter worth approximately $116,000. Institutional investors and hedge funds own 88.78% of the company's stock.

About Biohaven

Biohaven Ltd. NYSE: BHVN is a biopharmaceutical company focused on discovering, developing and commercializing therapies for neurological and immunological disorders. The company uses proprietary drug-development platforms to pursue treatments for conditions with significant unmet medical needs, including migraine, epilepsy, obsessive-compulsive disorder and other central nervous system diseases.

Biohaven's pipeline has included small-molecule and biologic candidates such as troriluzole, an investigational therapy being studied in several neurological disorders, and other programs targeting ion channels, glutamate signaling and immune pathways.

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