Biohaven (NYSE:BHVN) Reaches New 12-Month Low – Should You Sell?

Biohaven Ltd. (NYSE:BHVN)’s share price reached a new 52-week low on Friday . The company traded as low as $26.57 and last traded at $27.59, with a volume of 1090048 shares traded. The stock had previously closed at $28.39.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BHVN. JPMorgan Chase & Co. reduced their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Biohaven and gave the company a “buy” rating in a report on Thursday, March 20th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $62.77.

Biohaven Stock Down 2.8 %

The company has a market cap of $2.82 billion, a price-to-earnings ratio of -2.95 and a beta of 1.27. The firm has a 50-day simple moving average of $35.35 and a 200 day simple moving average of $41.38.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, research analysts expect that Biohaven Ltd. will post -8.9 EPS for the current year.

Insider Activity

In other Biohaven news, Director John W. Childs acquired 29,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the transaction, the director now owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. The trade was a 1.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Large investors have recently made changes to their positions in the stock. Spire Wealth Management acquired a new stake in shares of Biohaven in the 4th quarter worth approximately $56,000. Amalgamated Bank grew its holdings in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after purchasing an additional 527 shares during the last quarter. US Bancorp DE increased its position in shares of Biohaven by 36.7% in the fourth quarter. US Bancorp DE now owns 2,971 shares of the company’s stock valued at $111,000 after buying an additional 798 shares in the last quarter. Quarry LP acquired a new position in shares of Biohaven during the 4th quarter worth $112,000. Finally, Lazard Asset Management LLC raised its stake in shares of Biohaven by 47.4% during the 4th quarter. Lazard Asset Management LLC now owns 3,207 shares of the company’s stock worth $119,000 after buying an additional 1,031 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

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.