UBS Group Has Lowered Expectations for Biohaven (NYSE:BHVN) Stock Price

Key Points

• UBS Group has reduced the price target for Biohaven (NYSE:BHVN) from $27.00 to $26.00 while maintaining a "buy" rating, reflecting a potential upside of 89.09% from the previous close.
• In addition to UBS, several other firms have adjusted their price targets for Biohaven, with ratings ranging from "strong-buy" to "buy," contributing to a consensus target price of $53.50.
• Biohaven's stock currently trades at $13.75, much lower than its 12-month high of $55.70, indicating significant volatility and potential investment interest.

Biohaven (NYSE:BHVN - Get Free Report) had its price target decreased by analysts at UBS Group from $27.00 to $26.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. UBS Group's price target points to a potential upside of 81.31% from the stock's current price.

A number of other analysts have also recently commented on BHVN. BTIG Research increased their price target on shares of Biohaven from $59.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, August 19th. Leerink Partners dropped their price objective on shares of Biohaven from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Robert W. Baird cut their target price on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Royal Bank Of Canada cut shares of Biohaven from an "outperform" rating to a "sector perform" rating and cut their target price for the stock from $54.00 to $21.00 in a research note on Monday, May 19th. Finally, HC Wainwright restated a "buy" rating and set a $30.00 target price (down previously from $54.00) on shares of Biohaven in a research note on Tuesday, August 12th. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Biohaven currently has an average rating of "Buy" and an average price target of $51.80.

Biohaven Trading Down 7.6%

NYSE:BHVN traded down $1.18 during trading hours on Tuesday, hitting $14.34. The stock had a trading volume of 4,475,390 shares, compared to its average volume of 2,234,180. Biohaven has a one year low of $12.79 and a one year high of $55.70. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.82 and a current ratio of 3.82. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -1.87 and a beta of 1.02. The business's 50 day moving average is $14.63 and its 200-day moving average is $17.93.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings data on Monday, August 11th. The company reported ($1.94) EPS for the quarter, meeting the consensus estimate of ($1.94). Sell-side analysts anticipate that Biohaven will post -8.9 EPS for the current fiscal year.

Institutional Investors Weigh In On Biohaven

Large investors have recently bought and sold shares of the stock. KBC Group NV grew its holdings in Biohaven by 35.0% in the first quarter. KBC Group NV now owns 4,560 shares of the company's stock worth $110,000 after purchasing an additional 1,183 shares during the period. Parallel Advisors LLC grew its holdings in Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock worth $33,000 after purchasing an additional 1,036 shares during the period. SG Americas Securities LLC grew its holdings in Biohaven by 155.8% in the first quarter. SG Americas Securities LLC now owns 23,029 shares of the company's stock worth $554,000 after purchasing an additional 14,028 shares during the period. Fiera Capital Corp acquired a new stake in Biohaven in the first quarter worth $13,983,000. Finally, New York State Common Retirement Fund grew its holdings in Biohaven by 589.9% in the first quarter. New York State Common Retirement Fund now owns 160,251 shares of the company's stock worth $3,852,000 after purchasing an additional 137,024 shares during the period. 88.78% of the stock is currently owned by institutional investors and hedge funds.

About Biohaven

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.