Biohaven (NYSE:BHVN) Shares Up 13.9% – What’s Next?

Biohaven Ltd. (NYSE:BHVN) shares traded up 13.9% during trading on Monday . The stock traded as high as $15.11 and last traded at $15.45. Approximately 731,049 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 2,558,744 shares. The stock had previously closed at $13.57.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, May 27th. Leerink Partners restated an “outperform” rating and issued a $15.00 target price on shares of Biohaven in a report on Tuesday, March 3rd. Royal Bank Of Canada lowered their target price on shares of Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Morgan Stanley dropped their price target on shares of Biohaven from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Finally, Wall Street Zen downgraded shares of Biohaven from a “sell” rating to a “strong sell” rating in a research note on Sunday, April 26th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.27.

Biohaven Stock Down 4.0%

The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -2.62 and a beta of 1.35. The firm has a 50 day moving average price of $10.58 and a two-hundred day moving average price of $10.72.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). On average, equities analysts expect that Biohaven Ltd. will post -3.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently made changes to their positions in BHVN. PNC Financial Services Group Inc. lifted its holdings in shares of Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after acquiring an additional 1,268 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Biohaven by 178.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after purchasing an additional 2,583 shares in the last quarter. IFP Advisors Inc raised its position 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 purchasing an additional 1,450 shares during the period. Arax Advisory Partners raised its position 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 purchasing an additional 4,443 shares during the period. Finally, Focus Partners Wealth acquired a new position in shares of Biohaven during the third quarter worth about $87,000. 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.