Canaccord Genuity Group Issues Positive Forecast for Biohaven (NYSE:BHVN) Stock Price

Biohaven (NYSE:BHVN) had its target price hoisted by Canaccord Genuity Group from $21.00 to $32.00 in a research report report published on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on BHVN. HC Wainwright reissued a “neutral” rating and issued a $10.00 target price on shares of Biohaven in a report on Thursday, September 10th. Wall Street Zen raised shares of Biohaven from a “sell” rating to a “hold” rating in a report on Saturday, October 24th. Citigroup reiterated a “buy” rating on shares of Biohaven in a research report on Friday, September 18th. Royal Bank Of Canada increased their target price on shares of Biohaven from $19.00 to $22.00 and gave the stock a “sector perform” rating in a report on Friday, October 23rd. Finally, Morgan Stanley boosted their price target on Biohaven from $18.00 to $19.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.94.

Biohaven Stock Down 0.0%

BHVN stock opened at $15.41 on Friday. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 21.23. The business has a 50 day moving average of $13.63 and a 200 day moving average of $12.24. Biohaven has a twelve month low of $7.48 and a twelve month high of $18.24. The firm has a market cap of $2.33 billion, a PE ratio of -3.99 and a beta of 1.35.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.76) by ($0.15). On average, research analysts forecast that Biohaven will post -3.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Biohaven

A number of large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its position in Biohaven by 1,145.9% during the 1st quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock worth $148,214,000 after purchasing an additional 16,127,247 shares during the period. BlackRock Inc. acquired a new stake in shares of Biohaven in the second quarter valued at about $196,574,000. Jupiter Topco LLC purchased a new position in Biohaven in the 2nd quarter worth approximately $127,852,000. Stempoint Capital LP acquired a new stake in shares of Biohaven in the 1st quarter worth $13,489,000. Finally, Bank of America Corp DE purchased a new position in Biohaven during the second quarter worth about $21,990,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Company Profile

Biohaven Ltd. (NYSE:BHVN) is a biopharmaceutical company focused on discovering, developing and commercializing therapies for neurological and neuropsychiatric diseases, as well as certain immunological and rare disorders. The company’s research activities include small-molecule medicines, monoclonal antibodies and other innovative therapeutic approaches.

Biohaven’s pipeline has included investigational treatments for conditions such as migraine, obsessive-compulsive disorder, spinal muscular atrophy, amyotrophic lateral sclerosis, mood disorders and autoimmune diseases.