Weiss Ratings Reaffirms "Sell (E+)" Rating for Biohaven (NYSE:BHVN)

Key Points

• Weiss Ratings has reaffirmed a "Sell (E+)" rating for Biohaven (NYSE:BHVN), indicating a negative outlook on the stock's performance.
• Recent price targets from equities research analysts have varied, with Robert W. Baird lowering their target to $52, while Raymond James upgraded their rating to "strong-buy."
• Biohaven's stock rose by 2.3%, reaching $15.36, amidst significant trading volume of over 2 million shares.

Biohaven (NYSE:BHVN - Get Free Report)'s stock had its "sell (e+)" rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently issued reports on the stock. Robert W. Baird decreased their price target on shares of Biohaven from $57.00 to $52.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Raymond James Financial raised Biohaven from a "moderate buy" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. Leerink Partners dropped their price target on Biohaven from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Morgan Stanley dropped their price target on Biohaven from $63.00 to $54.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 12th. Finally, HC Wainwright restated a "buy" rating and issued a $30.00 price objective (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, eleven have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Biohaven has an average rating of "Buy" and an average target price of $48.85.

Biohaven Stock Up 2.3%

Shares of BHVN traded up $0.34 during trading hours on Wednesday, hitting $15.36. 2,033,755 shares of the company were exchanged, compared to its average volume of 1,806,110. The firm's 50 day moving average is $14.91 and its 200-day moving average is $16.66. Biohaven has a 52 week low of $12.79 and a 52 week high of $54.98. 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 $1.62 billion, a PE ratio of -2.01 and a beta of 1.03.

Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported ($1.94) earnings per share for the quarter, hitting the consensus estimate of ($1.94). On average, equities research analysts forecast that Biohaven will post -8.9 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Biohaven by 8,908.4% in the 1st quarter. GAMMA Investing LLC now owns 8,558 shares of the company's stock valued at $206,000 after buying an additional 8,463 shares in the last quarter. Rhumbline Advisers increased its stake in Biohaven by 6.2% in the first quarter. Rhumbline Advisers now owns 124,839 shares of the company's stock valued at $3,001,000 after acquiring an additional 7,244 shares during the period. SG Americas Securities LLC boosted its holdings in Biohaven by 155.8% during the first quarter. SG Americas Securities LLC now owns 23,029 shares of the company's stock valued at $554,000 after purchasing an additional 14,028 shares in the last quarter. KBC Group NV boosted its holdings in Biohaven by 35.0% during the first quarter. KBC Group NV now owns 4,560 shares of the company's stock valued at $110,000 after purchasing an additional 1,183 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its holdings in Biohaven by 3.3% during the first quarter. Peregrine Capital Management LLC now owns 153,825 shares of the company's stock valued at $3,698,000 after purchasing an additional 4,946 shares in the last quarter. 88.78% of the stock is owned by institutional investors.

Biohaven Company Profile

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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