Biohaven (NYSE:BHVN) Price Target Raised to $32.00

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

Several other brokerages also recently commented on BHVN. Robert W. Baird set a $48.00 target price on shares of Biohaven in a report on Thursday, October 22nd. HC Wainwright restated a “neutral” rating and issued a $10.00 price target on shares of Biohaven in a research note on Thursday, September 10th. Royal Bank Of Canada upped their target price on Biohaven from $19.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. TD Cowen reiterated a “buy” rating on shares of Biohaven in a research report on Wednesday, August 26th. Finally, Citigroup restated a “buy” rating on shares of Biohaven in a report on Friday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Biohaven currently has a consensus rating of “Moderate Buy” and an average price target of $19.94.

Biohaven Stock Performance

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

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

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlueCrest Capital Management Ltd bought a new stake in Biohaven in the second quarter valued at approximately $60,000. Sterling Capital Management LLC grew its holdings in shares of Biohaven by 847.5% during the 3rd quarter. Sterling Capital Management LLC now owns 4,444 shares of the company’s stock worth $59,000 after acquiring an additional 3,975 shares during the period. IFP Advisors Inc raised its holdings in Biohaven by 43.3% in the second quarter. IFP Advisors Inc now owns 6,011 shares of the company’s stock worth $89,000 after purchasing an additional 1,816 shares in the last quarter. Allworth Financial LP purchased a new position in Biohaven during the 2nd quarter valued at about $117,000. Finally, Essential Partners LLC boosted its position in shares of Biohaven by 31.7% in the 1st quarter. Essential Partners LLC now owns 9,020 shares of the company’s stock worth $76,000 after purchasing an additional 2,169 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

About Biohaven

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.