Biohaven Sees Unusually Large Options Volume (NYSE:BHVN)
by Danessa Lincoln · The Markets DailyBiohaven Ltd. (NYSE:BHVN – Get Free Report) was the recipient of some unusual options trading on Thursday. Traders bought 6,072 call options on the stock. This is an increase of approximately 155% compared to the average daily volume of 2,377 call options.
Wall Street Analyst Weigh In
Several research firms have recently commented on BHVN. Citigroup reiterated a “buy” rating on shares of Biohaven in a report on Friday, September 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Biohaven in a report on Friday, June 26th. HC Wainwright restated a “neutral” rating and set a $10.00 price objective on shares of Biohaven in a research report on Thursday, September 10th. Royal Bank Of Canada cut shares of Biohaven from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $23.00 to $19.00 in a research report on Tuesday, September 8th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biohaven in a research note on Friday, August 28th. Two research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.69.
View Our Latest Research Report on Biohaven
Institutional Trading of Biohaven
Institutional investors and hedge funds have recently bought and sold shares of the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its position in Biohaven by 12.9% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 17,500 shares of the company’s stock valued at $234,000 after buying an additional 2,000 shares during the last quarter. Opaleye Management Inc. purchased a new position in Biohaven during the second quarter worth about $1,159,000. BlueCrest Capital Management Ltd purchased a new position in Biohaven during the second quarter worth about $60,000. Engineers Gate Manager LP purchased a new position in Biohaven during the second quarter worth about $581,000. Finally, Integrated Wealth Concepts LLC increased its position in shares of Biohaven by 10.4% during the second quarter. Integrated Wealth Concepts LLC now owns 12,653 shares of the company’s stock valued at $188,000 after acquiring an additional 1,189 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.
Biohaven Trading Up 27.1%
BHVN stock traded up $3.19 during midday trading on Thursday, hitting $14.94. 21,821,308 shares of the company’s stock were exchanged, compared to its average volume of 2,733,416. The business has a 50-day simple moving average of $13.53 and a two-hundred day simple moving average of $12.65. The company has a current ratio of 4.73, a quick ratio of 4.73 and a debt-to-equity ratio of 21.23. The stock has a market capitalization of $2.26 billion, a PE ratio of -3.21 and a beta of 1.35. Biohaven has a 1-year low of $7.48 and a 1-year high of $18.57.
Biohaven (NYSE:BHVN – Get Free Report) last posted its 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, sell-side analysts predict that Biohaven will post -3.33 EPS for the current fiscal year.
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.