Biohaven (NYSE:BHVN) Trading Up 5.8% – Time to Buy?

Biohaven Ltd. (NYSE:BHVN)’s stock price was up 5.8% during trading on Wednesday . The stock traded as high as $9.09 and last traded at $8.8750. Approximately 145,114 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 2,347,663 shares. The stock had previously closed at $8.39.

Analyst Ratings Changes

A number of research firms recently commented on BHVN. Royal Bank Of Canada lowered their price objective on shares of Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, May 5th. Leerink Partners restated an “outperform” rating and issued a $15.00 price objective on shares of Biohaven in a research report on Tuesday, March 3rd. Wall Street Zen cut shares of Biohaven from a “sell” rating to a “strong sell” rating in a research report on Sunday, April 26th. Morgan Stanley lowered their price objective on shares of Biohaven from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Biohaven in a research report on Monday, March 9th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Biohaven currently has an average rating of “Moderate Buy” and a consensus price target of $22.27.

Biohaven Stock Up 7.1%

The company has a debt-to-equity ratio of 1.87, a quick ratio of 7.41 and a current ratio of 7.41. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of -1.59 and a beta of 1.32. The firm’s fifty day simple moving average is $9.50 and its 200 day simple moving average is $10.47.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BHVN. PNC Financial Services Group Inc. boosted its holdings in Biohaven by 113.7% during the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after purchasing an additional 1,268 shares during the last quarter. IFP Advisors Inc boosted its holdings in Biohaven by 55.4% during the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after purchasing an additional 1,450 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock worth $46,000 after purchasing an additional 2,583 shares during the last quarter. Arax Advisory Partners boosted its holdings in Biohaven by 943.3% during the fourth quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock worth $55,000 after purchasing an additional 4,443 shares during the last quarter. Finally, Leonteq Securities AG acquired a new position in Biohaven during the fourth quarter worth $78,000. Institutional investors and hedge funds 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.