Biohaven Ltd. (NYSE:BHVN) Receives Consensus Recommendation of “Buy” from Brokerages

Biohaven Ltd. (NYSE:BHVN) has been assigned a consensus recommendation of “Buy” from the sixteen ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $55.7143.

Several analysts have weighed in on BHVN shares. BTIG Research boosted their price target on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, August 19th. Cantor Fitzgerald upgraded shares of Biohaven to a “strong-buy” rating in a research report on Tuesday, May 13th. Bank of America decreased their price objective on shares of Biohaven from $50.00 to $49.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective (down previously from $54.00) on shares of Biohaven in a research report on Tuesday, August 12th. Finally, Morgan Stanley decreased their price objective on shares of Biohaven from $63.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 12th.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. increased its position in shares of Biohaven by 150.5% in the second quarter. Osaic Holdings Inc. now owns 9,791 shares of the company’s stock valued at $147,000 after acquiring an additional 5,883 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Biohaven in the second quarter valued at about $282,000. Tower Research Capital LLC TRC raised its stake in Biohaven by 198.6% in the second quarter. Tower Research Capital LLC TRC now owns 8,031 shares of the company’s stock worth $113,000 after buying an additional 5,341 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in Biohaven by 20.6% in the second quarter. E Fund Management Co. Ltd. now owns 13,492 shares of the company’s stock worth $190,000 after buying an additional 2,307 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its stake in Biohaven by 1.3% in the second quarter. Rafferty Asset Management LLC now owns 121,189 shares of the company’s stock worth $1,710,000 after buying an additional 1,503 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Stock Performance

Biohaven stock opened at $14.50 on Wednesday. The company has a quick ratio of 3.82, a current ratio of 3.82 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $1.53 billion, a PE ratio of -1.89 and a beta of 1.02. The firm has a fifty day simple moving average of $14.65 and a two-hundred day simple moving average of $18.97. Biohaven has a twelve month low of $12.79 and a twelve month high of $55.70.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Monday, August 11th. The company reported ($1.94) earnings per share for the quarter, hitting the consensus estimate of ($1.94). Research analysts expect that Biohaven will post -8.9 EPS for the current year.

About Biohaven

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.