HC Wainwright Reiterates Neutral Rating for Biohaven (NYSE:BHVN)

Biohaven (NYSE:BHVN)‘s stock had its “neutral” rating restated by equities researchers at HC Wainwright in a report released on Tuesday,Benzinga reports. They presently have a $10.00 price target on the stock. HC Wainwright’s target price would indicate a potential downside of 1.96% from the stock’s current price.

A number of other brokerages also recently issued reports on BHVN. The Goldman Sachs Group upgraded Biohaven to a “strong-buy” rating in a research report on Friday, February 6th. Morgan Stanley lowered their price target on Biohaven from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Wednesday, May 13th. Citigroup raised their price target on Biohaven from $14.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Raymond James Financial restated a “strong-buy” rating on shares of Biohaven in a research report on Monday, March 9th. Finally, TD Cowen increased their target price on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.27.

Biohaven Trading Up 7.9%

BHVN traded up $0.75 during trading on Tuesday, reaching $10.20. The company had a trading volume of 1,009,714 shares, compared to its average volume of 2,351,293. The stock has a market cap of $1.54 billion, a P/E ratio of -1.80 and a beta of 1.32. The business has a 50 day simple moving average of $9.43 and a 200-day simple moving average of $10.29. Biohaven has a 52 week low of $7.48 and a 52 week high of $18.57. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 1.87.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.02). On average, equities analysts anticipate that Biohaven will post -3 EPS for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently made changes to their positions in BHVN. Essential Partners LLC raised its holdings in shares of Biohaven by 31.7% in the first quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock valued at $76,000 after acquiring an additional 2,169 shares in the last quarter. Stempoint Capital LP bought a new stake in shares of Biohaven in the first quarter valued at about $13,489,000. Janus Henderson Group PLC raised its holdings in shares of Biohaven by 1,145.9% in the first quarter. Janus Henderson Group PLC now owns 17,534,612 shares of the company’s stock valued at $148,214,000 after acquiring an additional 16,127,247 shares in the last quarter. ADAR1 Capital Management LLC raised its holdings in shares of Biohaven by 30.6% in the first quarter. ADAR1 Capital Management LLC now owns 44,777 shares of the company’s stock valued at $379,000 after acquiring an additional 10,500 shares in the last quarter. Finally, Amundi raised its holdings in shares of Biohaven by 89.7% in the first quarter. Amundi now owns 19,749 shares of the company’s stock valued at $167,000 after acquiring an additional 9,341 shares in the last quarter. 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.