Biohaven (NYSE:BHVN) Stock Price Up 13.9% – What’s Next?

Biohaven Ltd. (NYSE:BHVN)’s stock price traded up 13.9% during trading on Monday . The company traded as high as $15.11 and last traded at $15.45. Approximately 731,049 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 2,558,744 shares. The stock had previously closed at $13.57.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research report on Tuesday, June 2nd. HC Wainwright restated a “neutral” rating and issued a $10.00 price target on shares of Biohaven in a research note on Tuesday, May 26th. Canaccord Genuity Group assumed coverage on Biohaven in a report on Monday, April 13th. They set a “buy” rating and a $21.00 price target for the company. TD Cowen upped their price objective on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $15.00 price objective on shares of Biohaven in a report on Tuesday, March 3rd. Two investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.27.

Biohaven Stock Performance

The company has a debt-to-equity ratio of 1.87, a current ratio of 7.41 and a quick ratio of 7.41. The stock has a 50 day simple moving average of $10.35 and a two-hundred day simple moving average of $10.63. The company has a market cap of $2.30 billion, a PE ratio of -2.70 and a beta of 1.35.

Biohaven (NYSE:BHVN) last announced its 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). Equities analysts predict that Biohaven Ltd. will post -3.07 EPS for the current year.

Institutional Trading of Biohaven

Several institutional investors and hedge funds have recently added to or reduced their stakes in BHVN. PNC Financial Services Group Inc. increased its holdings in shares of Biohaven by 113.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock valued at $36,000 after purchasing an additional 1,268 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of 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 period. IFP Advisors Inc grew its position in Biohaven by 55.4% in the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock valued at $46,000 after buying an additional 1,450 shares during the last quarter. Arax Advisory Partners increased its stake in Biohaven by 943.3% in the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after buying an additional 4,443 shares during the period. Finally, Focus Partners Wealth acquired a new position in Biohaven in the 3rd quarter valued at $87,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

About Biohaven

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.