Biohaven (NYSE:BHVN) Price Target Raised to $23.00

by · The Cerbat Gem

Biohaven (NYSE:BHVN – Get Free Report) had its price objective raised by investment analysts at Royal Bank Of Canada from $22.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 116.57% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. UBS Group lowered shares of Biohaven from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $26.00 to $11.00 in a report on Wednesday, November 26th. HC Wainwright reissued a “neutral” rating and issued a $11.00 price target on shares of Biohaven in a research note on Friday, December 26th. JPMorgan Chase & Co. cut their price target on shares of Biohaven from $47.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, November 20th. BTIG Research reiterated a “buy” rating and issued a $16.00 price objective on shares of Biohaven in a report on Tuesday, November 18th. Finally, The Goldman Sachs Group raised Biohaven to a “strong-buy” rating in a research note on Friday, February 6th. Three 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 assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.33.

Get Our Latest Stock Analysis on Biohaven

Biohaven Price Performance

Shares of BHVN traded down $1.19 during midday trading on Tuesday, reaching $10.62. The stock had a trading volume of 529,726 shares, compared to its average volume of 2,593,567. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -1.40 and a beta of 1.15. The company’s 50-day moving average is $11.59 and its 200 day moving average is $12.73. Biohaven has a 12-month low of $7.48 and a 12-month high of $32.41.

Biohaven (NYSE:BHVN – Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($1.21) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.01. On average, equities analysts predict that Biohaven will post -8.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Several hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in shares of Biohaven by 113.7% during the 3rd 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 last quarter. PFS Partners LLC purchased a new stake in shares of Biohaven in the third quarter worth about $60,000. EverSource Wealth Advisors LLC boosted its stake in Biohaven by 178.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,031 shares of the company’s stock valued at $46,000 after buying an additional 2,583 shares during the last quarter. IFP Advisors Inc grew its holdings in Biohaven by 55.4% during 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 in the last quarter. Finally, Arax Advisory Partners grew its holdings in 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 buying an additional 4,443 shares in the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Company Profile

(Get Free Report)

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.

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