Biohaven (NYSE:BHVN) Price Target Raised to $17.00 at Citigroup

Biohaven (NYSE:BHVN) had its target price hoisted by research analysts at Citigroup from $14.00 to $17.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 71.20% from the company’s previous close.

Several other analysts have also recently weighed in on the company. William Blair restated a “market perform” rating on shares of Biohaven in a report on Friday, December 26th. Leerink Partners reiterated an “outperform” rating and set a $15.00 target price on shares of Biohaven in a research report on Tuesday, March 3rd. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a research report on Monday, December 29th. Finally, Royal Bank Of Canada raised their price target on shares of Biohaven from $22.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Biohaven currently has a consensus rating of “Moderate Buy” and an average price target of $22.64.

Biohaven Price Performance

Shares of NYSE BHVN traded up $0.31 during mid-day trading on Thursday, hitting $9.93. 984,925 shares of the stock traded hands, compared to its average volume of 2,629,085. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.18 and a quick ratio of 3.18. Biohaven has a twelve month low of $7.48 and a twelve month high of $24.06. The company has a market cap of $1.49 billion, a PE ratio of -1.43 and a beta of 1.15. The firm has a 50 day simple moving average of $10.77 and a two-hundred day simple moving average of $11.86.

Biohaven (NYSE:BHVN) last issued its earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.01. As a group, equities research analysts forecast that Biohaven will post -8.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Biohaven

A number of hedge funds and other institutional investors have recently made changes to their positions in BHVN. Suvretta Capital Management LLC boosted its holdings in Biohaven by 83.0% in the fourth quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock valued at $116,140,000 after acquiring an additional 4,666,666 shares during the last quarter. Infinitum Asset Management LLC increased its position in Biohaven by 267.6% during the 4th quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock valued at $70,562,000 after purchasing an additional 4,550,000 shares during the period. Stifel Financial Corp raised its holdings in Biohaven by 50.3% during the 4th quarter. Stifel Financial Corp now owns 9,939,856 shares of the company’s stock worth $112,221,000 after purchasing an additional 3,328,506 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in Biohaven by 3,829.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,606,777 shares of the company’s stock worth $18,141,000 after purchasing an additional 1,565,891 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Biohaven by 52.9% in the 4th quarter. Vanguard Group Inc. now owns 4,395,946 shares of the company’s stock worth $49,630,000 after purchasing an additional 1,520,756 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

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.