Biohaven (NYSE:BHVN) Shares Up 6.2% – Time to Buy?

Biohaven Ltd. (NYSE:BHVN)’s stock price rose 6.2% during mid-day trading on Thursday . The company traded as high as $9.13 and last traded at $9.1450. Approximately 183,059 shares were traded during trading, a decline of 93% from the average daily volume of 2,589,411 shares. The stock had previously closed at $8.61.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. HC Wainwright lowered their target price on Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. William Blair restated a “market perform” rating on shares of Biohaven in a research report on Friday, December 26th. Leerink Partners reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Biohaven in a research note on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biohaven in a research report on Monday, December 29th. Finally, Morgan Stanley cut their target price on shares of Biohaven from $26.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, January 6th. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.43.

Biohaven Trading Down 5.8%

The company has a quick ratio of 3.18, a current ratio of 3.18 and a debt-to-equity ratio of 4.59. The stock’s fifty day moving average price is $11.02 and its two-hundred day moving average price is $11.98. The company has a market capitalization of $1.26 billion, a PE ratio of -1.21 and a beta of 1.15.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.01. Sell-side analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Hedge Funds Weigh In On Biohaven

Several hedge funds have recently made changes to their positions in BHVN. AQR Capital Management LLC raised its holdings in shares of Biohaven by 49.4% during the first quarter. AQR Capital Management LLC now owns 114,849 shares of the company’s stock valued at $2,761,000 after acquiring an additional 37,981 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Biohaven by 32.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company’s stock valued at $1,747,000 after acquiring an additional 17,562 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Biohaven by 7.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company’s stock valued at $14,174,000 after acquiring an additional 41,040 shares in the last quarter. Intech Investment Management LLC increased its position in Biohaven by 80.3% during the 1st quarter. Intech Investment Management LLC now owns 61,598 shares of the company’s stock valued at $1,481,000 after purchasing an additional 27,433 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Biohaven by 3.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,030,919 shares of the company’s stock worth $28,660,000 after purchasing an additional 71,939 shares in the last quarter. 88.78% of the stock is owned by hedge funds and other 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.