Biohaven (NYSE:BHVN) Stock Gets Price Target Boost from Canaccord Genuity Group

Biohaven (NYSE:BHVN) had its price objective hoisted by stock analysts at Canaccord Genuity Group from $21.00 to $32.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group‘s target price would indicate a potential upside of 107.62% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Wall Street Zen raised shares of Biohaven from a “sell” rating to a “hold” rating in a research note on Saturday, October 24th. Royal Bank Of Canada upped their target price on Biohaven from $19.00 to $22.00 and gave the company a “sector perform” rating in a research note on Friday, October 23rd. Citigroup reiterated a “buy” rating on shares of Biohaven in a report on Friday, September 18th. TD Cowen reissued a “buy” rating on shares of Biohaven in a research report on Wednesday, August 26th. Finally, Morgan Stanley boosted their price target on Biohaven from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $19.94.

Biohaven Price Performance

Shares of NYSE BHVN opened at $15.41 on Friday. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of -3.99 and a beta of 1.35. Biohaven has a 52 week low of $7.48 and a 52 week high of $18.24. The company’s 50-day moving average price is $13.63 and its 200 day moving average price is $12.24. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 21.23.

Biohaven (NYSE:BHVN) last posted its earnings results 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). As a group, research analysts forecast that Biohaven will post -3.03 earnings per share for the current fiscal year.

Institutional Trading of Biohaven

A number of hedge funds have recently bought and sold shares of BHVN. Profund Advisors LLC boosted its position in Biohaven by 5.6% during the third quarter. Profund Advisors LLC now owns 57,036 shares of the company’s stock worth $761,000 after acquiring an additional 3,018 shares during the last quarter. Sigma Planning Corp raised its holdings in Biohaven by 43.1% in the 3rd quarter. Sigma Planning Corp now owns 19,944 shares of the company’s stock valued at $266,000 after acquiring an additional 6,008 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Biohaven by 847.5% during the 3rd quarter. Sterling Capital Management LLC now owns 4,444 shares of the company’s stock worth $59,000 after purchasing an additional 3,975 shares during the period. Inspire Investing LLC lifted its stake in shares of Biohaven by 2.4% during the 3rd quarter. Inspire Investing LLC now owns 47,089 shares of the company’s stock worth $629,000 after purchasing an additional 1,113 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its holdings in shares of 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 worth $234,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

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.