Biohaven Ltd. (NYSE:BHVN) Receives $58.46 Consensus Target Price from Analysts

Biohaven Ltd. (NYSE:BHVN) has received an average rating of “Buy” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $58.46.

A number of equities analysts have weighed in on BHVN shares. Cantor Fitzgerald raised Biohaven to a “strong-buy” rating in a research report on Tuesday, May 13th. Robert W. Baird lowered their price target on Biohaven from $60.00 to $57.00 and set an “outperform” rating on the stock in a research report on Monday, April 28th. Royal Bank Of Canada downgraded Biohaven from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $54.00 to $21.00 in a research report on Monday, May 19th. William Blair upgraded Biohaven to a “strong-buy” rating in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price objective on Biohaven from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Wednesday, June 18th.

Institutional Investors Weigh In On Biohaven

Several institutional investors have recently made changes to their positions in BHVN. SVB Wealth LLC purchased a new position in Biohaven during the 1st quarter valued at about $25,000. Parallel Advisors LLC grew its position in shares of Biohaven by 319.8% in the 1st quarter. Parallel Advisors LLC now owns 1,360 shares of the company’s stock worth $33,000 after buying an additional 1,036 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Biohaven by 53.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company’s stock worth $43,000 after buying an additional 623 shares during the last quarter. IFP Advisors Inc grew its position in shares of Biohaven by 84,800.0% in the 1st quarter. IFP Advisors Inc now owns 2,547 shares of the company’s stock worth $61,000 after buying an additional 2,544 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Biohaven by 35.0% in the 1st quarter. KBC Group NV now owns 4,560 shares of the company’s stock worth $110,000 after buying an additional 1,183 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Down 7.1%

Shares of Biohaven stock opened at $14.04 on Tuesday. Biohaven has a fifty-two week low of $13.04 and a fifty-two week high of $55.70. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -1.50 and a beta of 0.91. The business has a fifty day simple moving average of $15.31 and a 200-day simple moving average of $25.15.

Biohaven (NYSE:BHVN) last announced its earnings results on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.50). Analysts anticipate that Biohaven will post -8.9 earnings per share for the current fiscal year.

About Biohaven

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.