Biohaven (NYSE:BHVN) Shares Down 7.9% – Time to Sell?

Biohaven Ltd. (NYSE:BHVN) shares were down 7.9% during trading on Monday . The stock traded as low as $9.17 and last traded at $9.0850. Approximately 961,775 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 2,390,944 shares. The stock had previously closed at $9.86.

Analyst Upgrades and Downgrades

Several analysts recently commented on BHVN shares. The Goldman Sachs Group raised Biohaven to a “strong-buy” rating in a report on Friday, February 6th. TD Cowen lifted their price objective on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th. Royal Bank Of Canada cut their price objective on Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Leerink Partners reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Biohaven in a report on Tuesday, March 3rd. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a report on Monday, March 9th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.47.

Biohaven Stock Down 8.1%

The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87. The company has a market cap of $1.36 billion, a P/E ratio of -1.60 and a beta of 1.32. The company has a fifty day moving average of $9.81 and a 200 day moving average of $10.93.

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

Institutional Trading of Biohaven

Several hedge funds have recently bought and sold shares of BHVN. Suvretta Capital Management LLC grew its holdings in Biohaven by 83.0% during the fourth quarter. Suvretta Capital Management LLC now owns 10,286,937 shares of the company’s stock valued at $116,140,000 after purchasing an additional 4,666,666 shares during the period. Infinitum Asset Management LLC grew its holdings in Biohaven by 267.6% during the fourth quarter. Infinitum Asset Management LLC now owns 6,250,000 shares of the company’s stock valued at $70,562,000 after purchasing an additional 4,550,000 shares during the period. Stifel Financial Corp grew its holdings in Biohaven by 50.3% during the fourth quarter. Stifel Financial Corp now owns 9,939,856 shares of the company’s stock valued at $112,221,000 after purchasing an additional 3,328,506 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in Biohaven by 3,829.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,606,777 shares of the company’s stock valued at $18,141,000 after purchasing an additional 1,565,891 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Biohaven by 52.9% during the fourth quarter. Vanguard Group Inc. now owns 4,395,946 shares of the company’s stock valued at $49,630,000 after purchasing an additional 1,520,756 shares during the period. Institutional investors own 88.78% of the company’s stock.

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.