Biohaven (NYSE:BHVN) Shares Gap Up – Here’s What Happened

Biohaven Ltd. (NYSE:BHVN) shares gapped up prior to trading on Thursday. The stock had previously closed at $11.75, but opened at $16.10. Biohaven shares last traded at $15.1390, with a volume of 16,433,777 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BHVN. TD Cowen reiterated a “buy” rating on shares of Biohaven in a research report on Wednesday, August 26th. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a report on Thursday, October 8th. HC Wainwright restated a “neutral” rating and issued a $10.00 price objective on shares of Biohaven in a research report on Thursday, September 10th. Wall Street Zen raised Biohaven from a “strong sell” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Biohaven in a report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.69.

Biohaven Stock Performance

The stock has a 50-day moving average of $13.53 and a 200 day moving average of $12.65. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -3.30 and a beta of 1.35.

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

Institutional Investors Weigh In On Biohaven

A number of institutional investors and hedge funds have recently modified their holdings of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in Biohaven by 12.9% during the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 17,500 shares of the company’s stock valued at $234,000 after purchasing an additional 2,000 shares during the period. Opaleye Management Inc. bought a new stake in Biohaven in the second quarter valued at approximately $1,159,000. BlueCrest Capital Management Ltd bought a new stake in Biohaven in the second quarter valued at approximately $60,000. Engineers Gate Manager LP acquired a new stake in Biohaven in the second quarter worth $581,000. Finally, Integrated Wealth Concepts LLC raised its holdings in Biohaven by 10.4% in the second quarter. Integrated Wealth Concepts LLC now owns 12,653 shares of the company’s stock worth $188,000 after purchasing an additional 1,189 shares during the period. 88.78% of the stock is owned by institutional investors.

Biohaven Company Profile

Biohaven Ltd. (NYSE:BHVN) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for neurological and neuropsychiatric diseases, as well as certain immunological and rare disorders. The company’s research activities include small-molecule medicines, monoclonal antibodies and other innovative therapeutic approaches.

Biohaven’s pipeline has included investigational treatments for conditions such as migraine, obsessive-compulsive disorder, spinal muscular atrophy, amyotrophic lateral sclerosis, mood disorders and autoimmune diseases.