Biohaven (NYSE:BHVN) Sees Strong Trading Volume – Should You Buy?

Biohaven Ltd. (NYSE:BHVN) shares saw an uptick in trading volume on Wednesday . 1,719,094 shares were traded during mid-day trading, a decline of 33% from the previous session’s volume of 2,547,931 shares.The stock last traded at $14.4680 and had previously closed at $14.38.

Analyst Ratings Changes

A number of equities analysts have issued reports on BHVN shares. Morgan Stanley raised their price objective 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. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a research report on Wednesday, May 27th. Wall Street Zen raised Biohaven from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 27th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Biohaven in a report on Friday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.75.

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 market cap of $2.30 billion, a price-to-earnings ratio of -3.28 and a beta of 1.26. The stock’s fifty day moving average is $14.67 and its 200-day moving average is $11.78.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.91) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.76) by ($0.15). On average, analysts forecast that Biohaven Ltd. will post -3.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Biohaven by 49.4% during the first quarter. AQR Capital Management LLC now owns 114,849 shares of the company’s stock worth $2,761,000 after purchasing an additional 37,981 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Biohaven by 32.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 71,833 shares of the company’s stock worth $1,747,000 after buying an additional 17,562 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Biohaven by 7.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company’s stock worth $14,174,000 after buying an additional 41,040 shares during the period. Intech Investment Management LLC lifted its stake in Biohaven by 80.3% in the first quarter. Intech Investment Management LLC now owns 61,598 shares of the company’s stock valued at $1,481,000 after buying an additional 27,433 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in shares of Biohaven by 1,097.8% in the second quarter. Quantbot Technologies LP now owns 8,840 shares of the company’s stock valued at $125,000 after buying an additional 8,102 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.