Citigroup Lowers Biohaven (NYSE:BHVN) Price Target to $14.00

by · The Cerbat Gem

Biohaven (NYSE:BHVN – Get Free Report) had its price target reduced by equities research analysts at Citigroup from $28.00 to $14.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 73.37% from the company’s previous close.

BHVN has been the topic of several other reports. Weiss Ratings restated a “sell (e+)” rating on shares of Biohaven in a report on Wednesday, October 8th. TD Cowen lowered their target price on Biohaven from $50.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. UBS Group dropped their target price on Biohaven from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, September 16th. Morgan Stanley reiterated an “overweight” rating on shares of Biohaven in a report on Wednesday, November 5th. Finally, BTIG Research lowered their price target on Biohaven from $33.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $33.21.

Get Our Latest Stock Report on BHVN

Biohaven Stock Up 1.6%

NYSE:BHVN traded up $0.13 on Thursday, hitting $8.08. 4,629,187 shares of the company’s stock traded hands, compared to its average volume of 2,148,933. The company has a market cap of $854.82 million, a PE ratio of -1.06 and a beta of 1.10. Biohaven has a 1 year low of $7.48 and a 1 year high of $50.40. The company has a current ratio of 2.86, a quick ratio of 3.82 and a debt-to-equity ratio of 1.91. The firm has a 50-day moving average price of $14.67 and a 200-day moving average price of $15.37.

Biohaven (NYSE:BHVN – Get Free Report) last posted its quarterly earnings results on Monday, November 10th. The company reported ($1.64) EPS for the quarter, topping the consensus estimate of ($1.91) by $0.27. Equities analysts anticipate that Biohaven will post -8.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bellevue Group AG lifted its position in Biohaven by 37.3% in the second quarter. Bellevue Group AG now owns 2,802,853 shares of the company’s stock worth $39,548,000 after purchasing an additional 762,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Biohaven by 31.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,572,042 shares of the company’s stock worth $36,292,000 after acquiring an additional 612,209 shares during the period. Armistice Capital LLC boosted its position in shares of Biohaven by 27.6% during the 2nd quarter. Armistice Capital LLC now owns 2,136,000 shares of the company’s stock valued at $30,139,000 after acquiring an additional 462,578 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Biohaven by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,030,919 shares of the company’s stock valued at $28,660,000 after acquiring an additional 71,939 shares in the last quarter. Finally, Holocene Advisors LP increased its stake in Biohaven by 19.1% in the second quarter. Holocene Advisors LP now owns 1,495,641 shares of the company’s stock valued at $21,103,000 after acquiring an additional 239,889 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

About Biohaven

(Get Free Report)

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.

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