Biohaven (NYSE:BHVN) Stock Price Target Raised at Morgan Stanley

Biohaven (NYSE:BHVN) had its target price lifted by Morgan Stanley from $19.00 to $21.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley‘s target price points to a potential upside of 36.59% from the stock’s current price.

BHVN has been the subject of a number of other research reports. Raymond James Financial restated a “strong-buy” rating on shares of Biohaven in a research note on Thursday, October 8th. Citigroup reissued a “buy” rating on shares of Biohaven in a report on Friday, September 18th. TD Cowen restated a “buy” rating on shares of Biohaven in a research report on Wednesday, August 26th. Robert W. Baird set a $48.00 target price on Biohaven in a research report on Thursday, October 22nd. Finally, Canaccord Genuity Group upped their price target on Biohaven from $21.00 to $32.00 and gave the company a “buy” rating in a research report on Friday. Two investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.06.

Biohaven Stock Performance

Shares of NYSE BHVN traded up $0.21 during trading hours on Tuesday, hitting $15.38. 887,336 shares of the stock were exchanged, compared to its average volume of 2,780,460. Biohaven has a one year low of $7.48 and a one year high of $18.24. The company’s 50 day moving average is $13.65 and its 200 day moving average is $12.26. The company has a debt-to-equity ratio of 21.23, a current ratio of 4.73 and a quick ratio of 4.73. The firm has a market capitalization of $2.32 billion, a P/E ratio of -3.98 and a beta of 1.35.

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

Institutional Investors Weigh In On Biohaven

Large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Biohaven in the second quarter valued at approximately $196,574,000. Janus Henderson Group PLC raised its stake in shares of 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 in the last quarter. Jupiter Topco LLC bought a new stake in shares of Biohaven during the 2nd quarter worth approximately $127,852,000. Bank of America Corp DE acquired a new stake in shares of Biohaven in the 2nd quarter valued at approximately $21,990,000. Finally, Stempoint Capital LP acquired a new stake in shares of Biohaven in the 1st quarter valued at approximately $13,489,000. 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.