Biohaven (NYSE:BHVN) Stock Price Up 9.4% – Time to Buy?

Biohaven Ltd. (NYSE:BHVN)’s stock price rose 9.4% on Thursday . The company traded as high as $13.06 and last traded at $13.1460. Approximately 953,347 shares were traded during trading, a decline of 64% from the average session volume of 2,674,066 shares. The stock had previously closed at $12.02.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BHVN shares. HC Wainwright reaffirmed a “neutral” rating and set a $10.00 price target on shares of Biohaven in a research note on Thursday, September 10th. Needham & Company LLC set a $11.00 price objective on shares of Biohaven in a research report on Monday, June 29th. Wall Street Zen upgraded shares of Biohaven from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research report on Friday, August 28th. Finally, Morgan Stanley lifted their price target on shares of Biohaven from $18.00 to $19.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $18.69.

Biohaven Stock Performance

The company has a quick ratio of 4.73, a current ratio of 4.73 and a debt-to-equity ratio of 21.23. The stock has a 50 day simple moving average of $14.41 and a two-hundred day simple moving average of $12.16. The stock has a market capitalization of $2.05 billion, a P/E ratio of -2.93 and a beta of 1.28.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15). On average, equities analysts forecast that Biohaven Ltd. will post -3.33 EPS for the current fiscal year.

Institutional Trading of Biohaven

A number of large investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC increased its stake in shares of Biohaven by 1,145.9% during the 1st quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock worth $148,214,000 after purchasing an additional 16,127,247 shares during the last quarter. BlackRock Inc. acquired a new stake in Biohaven in the 2nd quarter valued at about $196,574,000. Jupiter Topco LLC bought a new position in Biohaven during the second quarter worth about $127,852,000. BNP Paribas Financial Markets grew its holdings in Biohaven by 148.2% during the fourth quarter. BNP Paribas Financial Markets now owns 2,093,816 shares of the company’s stock worth $23,639,000 after purchasing an additional 1,250,252 shares during the period. Finally, Stempoint Capital LP acquired a new position in Biohaven during the first quarter worth approximately $13,489,000. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Company Profile

Biohaven Ltd. is a clinical-stage biopharmaceutical company focused on developing therapies for neurological and immunological disorders. The company’s research programs use a range of approaches, including small-molecule medicines, biologics and other targeted therapies, with the goal of addressing diseases that have limited or inadequate treatment options.

Biohaven’s pipeline has included investigational treatments for conditions such as epilepsy, obsessive-compulsive disorder, neurodegenerative diseases, neuroinflammatory disorders and immune-mediated diseases.