Biohaven (NYSE:BHVN) Shares Gap Down – What’s Next?

Biohaven Ltd. (NYSE:BHVN) shares gapped down before the market opened on Monday . The stock had previously closed at $15.83, but opened at $14.32. Biohaven shares last traded at $14.4560, with a volume of 428,131 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley lowered their price objective on Biohaven from $21.00 to $18.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 13th. Royal Bank Of Canada reduced their target price on Biohaven from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. 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. TD Cowen boosted their price target on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research report on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.62.

Biohaven Stock Performance

The business has a 50-day moving average of $11.06 and a 200 day moving average of $10.89. 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 company has a market cap of $2.22 billion, a PE ratio of -2.61 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 the consensus estimate of ($0.86) by ($0.02). Equities research analysts anticipate that Biohaven Ltd. will post -3.1 EPS for the current fiscal year.

Institutional Trading of Biohaven

Large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in Biohaven by 113.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after acquiring an additional 1,268 shares during the period. IFP Advisors Inc boosted its stake in shares of Biohaven by 55.4% during the 4th quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after acquiring an additional 1,450 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Biohaven by 178.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after acquiring an additional 2,583 shares during the period. Arax Advisory Partners grew its position in shares of Biohaven by 943.3% during the 4th quarter. Arax Advisory Partners now owns 4,914 shares of the company’s stock valued at $55,000 after acquiring an additional 4,443 shares during the period. Finally, Essential Partners LLC increased its stake 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. 88.78% of the stock is currently owned by 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.