Biohaven (NYSE:BHVN) Trading 7% Higher – Should You Buy?

Biohaven Ltd. (NYSE:BHVN) was up 7% during mid-day trading on Friday . The company traded as high as $14.67 and last traded at $15.1660. 237,498 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 2,656,797 shares. The stock had previously closed at $14.17.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BHVN shares. Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a research note on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Biohaven in a research note on Friday, June 26th. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a report on Wednesday, May 27th. Canaccord Genuity Group began coverage on Biohaven in a research report on Monday, April 13th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Royal Bank Of Canada dropped their price objective on Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.62.

Biohaven Stock Performance

The stock has a market cap of $2.30 billion, a P/E ratio of -2.68 and a beta of 1.28. The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. The firm’s 50-day moving average price is $12.42 and its 200-day moving average price is $11.31.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, May 4th. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.02). Sell-side analysts expect that Biohaven Ltd. will post -3.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB increased its holdings in shares of Biohaven by 85.0% in the second quarter. Handelsbanken Fonder AB now owns 67,700 shares of the company’s stock worth $1,007,000 after purchasing an additional 31,100 shares during the last quarter. Constitution Capital LLC boosted its stake in Biohaven by 58.8% during the second quarter. Constitution Capital LLC now owns 27,000 shares of the company’s stock valued at $402,000 after buying an additional 10,000 shares during the last quarter. Defilade Capital Management L.P. bought a new position in Biohaven during the first quarter valued at approximately $2,673,000. Essential Partners LLC boosted its stake in Biohaven by 31.7% during the first quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock valued at $76,000 after buying an additional 2,169 shares during the last quarter. Finally, Stempoint Capital LP purchased a new position in Biohaven during the 1st quarter valued at approximately $13,489,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Company Profile

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.