Biohaven (NYSE:BHVN) Trading Up 5.8% – What’s Next?

Biohaven Ltd. (NYSE:BHVN) was up 5.8% on Wednesday . The stock traded as high as $9.09 and last traded at $8.8750. Approximately 145,114 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 2,347,663 shares. The stock had previously closed at $8.39.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BHVN shares. TD Cowen increased their target price on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Royal Bank Of Canada decreased their price target on Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a research note on Monday, March 9th. Citigroup increased their price target on Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Finally, Canaccord Genuity Group initiated coverage on Biohaven in a research note on Monday, April 13th. They issued a “buy” rating and a $21.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.27.

Biohaven Price Performance

The company has a 50 day moving average of $9.46 and a two-hundred day moving average of $10.36. The firm has a market cap of $1.43 billion, a P/E ratio of -1.67 and a beta of 1.32. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87.

Biohaven (NYSE:BHVN) last announced its earnings results on Monday, May 4th. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Sell-side analysts expect that Biohaven Ltd. will post -2.97 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BHVN. PNC Financial Services Group Inc. boosted its stake in Biohaven by 113.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after buying an additional 1,268 shares in the last quarter. IFP Advisors Inc boosted its stake in Biohaven by 55.4% during the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after buying an additional 1,450 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after buying an additional 2,583 shares in the last quarter. Arax Advisory Partners boosted its position in shares of Biohaven by 943.3% in the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after purchasing an additional 4,443 shares during the period. Finally, Essential Partners LLC boosted its position in shares of Biohaven by 31.7% in the 1st quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock valued at $76,000 after purchasing an additional 2,169 shares during the period. Institutional investors own 88.78% of the company’s stock.

Biohaven Company Profile

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.