Biohaven (NYSE:BHVN) Sees Large Volume Increase

Shares of Biohaven Ltd. (NYSE:BHVN) saw unusually-high trading volume on Thursday . Approximately 741,668 shares were traded during trading, a decline of 37% from the previous session’s volume of 1,176,001 shares.The stock last traded at $42.13 and had previously closed at $44.03.

Analysts Set New Price Targets

Several brokerages have commented on BHVN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price objective on Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. TD Cowen boosted their target price on Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. HC Wainwright increased their price target on Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, UBS Group initiated coverage on Biohaven in a research note on Tuesday, February 6th. They issued a “buy” rating and a $59.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Biohaven presently has an average rating of “Buy” and an average target price of $52.00.

Biohaven Stock Down 2.5 %

The stock has a market capitalization of $3.50 billion, a P/E ratio of -7.30 and a beta of 1.18. The company has a 50-day moving average price of $52.13 and a two-hundred day moving average price of $41.23.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). On average, sell-side analysts expect that Biohaven Ltd. will post -5.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cypress Wealth Services LLC bought a new stake in Biohaven during the first quarter valued at approximately $326,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Biohaven during the 4th quarter worth $10,828,000. Vanguard Group Inc. lifted its holdings in shares of Biohaven by 16.0% during the 4th quarter. Vanguard Group Inc. now owns 1,658,151 shares of the company’s stock worth $70,969,000 after acquiring an additional 229,168 shares during the last quarter. Wellington Management Group LLP purchased a new position in Biohaven in the fourth quarter worth $593,000. Finally, Goldman Sachs Group Inc. increased its stake in Biohaven by 8.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 945,715 shares of the company’s stock valued at $40,477,000 after acquiring an additional 71,850 shares during the last quarter. 88.78% of the stock is currently 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.