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

Key Points

• Weiss Ratings has reaffirmed its "Sell (E+)" rating for Biohaven (NYSE:BHVN), signaling cautious sentiment about the stock.
• Despite the sell rating from Weiss, consensus among other analysts is more positive, with three analysts rating it as a Strong Buy and a majority giving it a Buy rating.
• Biohaven's stock has seen a market decline, trading at $16.59, and has a one-year high of $54.98 and a low of $12.79.

Biohaven (NYSE:BHVN - Get Free Report)'s stock had its "sell (e+)" rating restated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Friday,Weiss Ratings reports.

Several other research firms have also recently weighed in on BHVN. BTIG Research lifted their price objective on Biohaven from $59.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, August 19th. UBS Group cut their price objective on Biohaven from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Tuesday, September 16th. Bank of America cut their price objective on Biohaven from $50.00 to $49.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Raymond James Financial upgraded Biohaven from a "moderate buy" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Finally, Morgan Stanley cut their price objective on Biohaven from $63.00 to $54.00 and set an "overweight" rating on the stock in a report on Tuesday, August 12th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $48.85.

Biohaven Trading Up 1.8%

BHVN traded up $0.29 during midday trading on Friday, reaching $16.59. 1,281,092 shares of the company were exchanged, compared to its average volume of 1,836,525. The company has a debt-to-equity ratio of 1.91, a quick ratio of 3.82 and a current ratio of 3.82. Biohaven has a one year low of $12.79 and a one year high of $54.98. The stock has a market capitalization of $1.76 billion, a P/E ratio of -2.17 and a beta of 1.03. The stock's 50-day simple moving average is $15.36 and its 200 day simple moving average is $16.03.

Biohaven (NYSE:BHVN - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($1.94) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($1.94). As a group, analysts forecast that Biohaven will post -8.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biohaven

Hedge funds and other institutional investors have recently bought and sold shares of the company. KBC Group NV increased its position in shares of Biohaven by 35.0% during the 1st 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 last quarter. Peregrine Capital Management LLC increased its position in shares of Biohaven by 3.3% during the 1st quarter. Peregrine Capital Management LLC now owns 153,825 shares of the company's stock worth $3,698,000 after purchasing an additional 4,946 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Biohaven by 154.8% during the 1st quarter. WCM Investment Management LLC now owns 271,822 shares of the company's stock worth $6,535,000 after purchasing an additional 165,157 shares during the last quarter. VELA Investment Management LLC increased its position in shares of Biohaven by 53.1% during the 1st quarter. VELA Investment Management LLC now owns 26,836 shares of the company's stock worth $645,000 after purchasing an additional 9,306 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Biohaven by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 302,280 shares of the company's stock worth $7,267,000 after purchasing an additional 7,202 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

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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