Brokerages Set Biohaven Ltd. (NYSE:BHVN) PT at $21.62

Biohaven Ltd. (NYSE:BHVN) has received an average recommendation of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $21.6250.

Several research firms have recently weighed in on BHVN. Morgan Stanley cut their target price on Biohaven from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Biohaven in a research report on Friday, June 26th. Canaccord Genuity Group started coverage on shares of Biohaven in a research report on Monday, April 13th. They set a “buy” rating and a $21.00 price objective on the stock. Wall Street Zen upgraded shares of Biohaven from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, May 27th.

Biohaven Stock Down 2.4%

Shares of BHVN opened at $13.49 on Friday. The business’s 50 day moving average is $13.60 and its 200 day moving average is $11.57. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 1.87. Biohaven has a 12-month low of $7.48 and a 12-month high of $18.57. The company has a market capitalization of $2.03 billion, a PE ratio of -2.38 and a beta of 1.28.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Research analysts expect that Biohaven will post -3.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Hedge funds have recently added to or reduced their stakes in the company. Aberdeen Group plc bought a new position in shares of Biohaven during the fourth quarter valued at approximately $7,829,000. SG Americas Securities LLC raised its holdings in shares of Biohaven by 291.8% in the fourth quarter. SG Americas Securities LLC now owns 105,518 shares of the company’s stock worth $1,191,000 after buying an additional 78,585 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Biohaven during the 1st quarter worth approximately $1,369,000. ARS Investment Partners LLC lifted its stake in shares of Biohaven by 12.4% during the 4th quarter. ARS Investment Partners LLC now owns 1,239,600 shares of the company’s stock worth $13,995,000 after acquiring an additional 137,051 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Biohaven by 484.7% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 133,900 shares of the company’s stock valued at $1,512,000 after acquiring an additional 111,000 shares during the period. 88.78% of the stock is currently owned by institutional investors.

About Biohaven

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.