Biohaven (NYSE:BHVN) Trading Up 10.5% – What’s Next?

Biohaven Ltd. (NYSE:BHVN)’s stock price rose 10.5% during trading on Wednesday . The company traded as high as $9.33 and last traded at $9.3450. Approximately 707,655 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 2,608,490 shares. The stock had previously closed at $8.46.

Wall Street Analysts Forecast Growth

BHVN has been the subject of a number of recent analyst reports. HC Wainwright cut their price objective on Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, March 4th. The Goldman Sachs Group raised shares of Biohaven to a “strong-buy” rating in a research note on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biohaven in a research report on Monday, December 29th. William Blair reissued a “market perform” rating on shares of Biohaven in a research note on Friday, December 26th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a research report on Monday, March 9th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.64.

Biohaven Stock Performance

The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -1.41 and a beta of 1.34. The firm has a 50 day moving average price of $10.69 and a 200-day moving average price of $11.84. 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 (NYSE:BHVN) last released its earnings results on Monday, March 2nd. The company reported ($1.21) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.01. As a group, sell-side analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biohaven

A number of large investors have recently modified their holdings of BHVN. PNC Financial Services Group Inc. raised its holdings in shares of Biohaven by 113.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after purchasing an additional 1,268 shares in the last quarter. PFS Partners LLC acquired a new position in shares of Biohaven during the third quarter worth $60,000. EverSource Wealth Advisors LLC increased its holdings in Biohaven by 178.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after buying an additional 2,583 shares during the last quarter. IFP Advisors Inc raised its stake in Biohaven by 55.4% in the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after buying an additional 1,450 shares in the last quarter. Finally, Arax Advisory Partners raised its stake in Biohaven by 943.3% in the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after buying an additional 4,443 shares in the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

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.