TD Cowen Boosts Biohaven (NYSE:BHVN) Price Target to $30.00

Biohaven (NYSE:BHVN) had its target price hoisted by TD Cowen from $15.00 to $30.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 185.77% from the company’s current price.

Other analysts have also issued research reports about the company. BTIG Research reaffirmed a “buy” rating and issued a $16.00 price target on shares of Biohaven in a research note on Tuesday, November 18th. HC Wainwright reduced their price objective on shares of Biohaven from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 4th. William Blair restated a “market perform” rating on shares of Biohaven in a report on Friday, December 26th. Leerink Partners reaffirmed an “outperform” rating and issued a $15.00 target price on shares of Biohaven in a research report on Tuesday, March 3rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Biohaven from $47.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, November 20th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Biohaven presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.93.

Biohaven Trading Up 2.2%

NYSE:BHVN traded up $0.23 during mid-day trading on Wednesday, reaching $10.50. 741,300 shares of the company’s stock traded hands, compared to its average volume of 2,678,721. The company has a 50 day moving average price of $11.57 and a 200-day moving average price of $12.52. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -1.50 and a beta of 1.15. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.18 and a quick ratio of 3.18. Biohaven has a 12-month low of $7.48 and a 12-month high of $31.18.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.01. On average, sell-side analysts predict that Biohaven will post -8.9 earnings per share for the current year.

Institutional Investors Weigh In On Biohaven

A number of hedge funds and other institutional investors have recently bought and sold shares of BHVN. Caitong International Asset Management Co. Ltd bought a new position in shares of Biohaven during the fourth quarter valued at approximately $81,000. Invesco Ltd. boosted its position in shares of Biohaven by 59.0% in the 4th quarter. Invesco Ltd. now owns 194,751 shares of the company’s stock worth $2,199,000 after purchasing an additional 72,230 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Biohaven in the 4th quarter worth approximately $342,000. XTX Topco Ltd increased its position in Biohaven by 31.1% during the 4th quarter. XTX Topco Ltd now owns 83,455 shares of the company’s stock valued at $942,000 after buying an additional 19,816 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its position in Biohaven by 758.4% during the 4th quarter. Voloridge Investment Management LLC now owns 1,318,775 shares of the company’s stock valued at $14,889,000 after buying an additional 1,165,137 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Company Profile

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.