Biohaven (NYSE:BHVN) Trading Down 5.3% – Here’s Why
by Kim Johansen · The Markets DailyBiohaven Ltd. (NYSE:BHVN – Get Free Report) shares dropped 5.3% during trading on Monday . The stock traded as low as $9.34 and last traded at $9.2850. Approximately 504,931 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 2,621,977 shares. The stock had previously closed at $9.80.
Analyst Upgrades and Downgrades
BHVN has been the subject of several research analyst reports. HC Wainwright reduced their price target on shares of Biohaven from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, March 4th. The Goldman Sachs Group raised shares of Biohaven to a “strong-buy” rating in a research note on Friday, February 6th. Citigroup boosted their target price on shares of Biohaven from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a report on Monday, December 29th. Finally, TD Cowen raised their target price on Biohaven from $15.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Biohaven presently has a consensus rating of “Moderate Buy” and an average price target of $22.64.
Read Our Latest Stock Report on BHVN
Biohaven Stock Performance
The firm’s fifty day moving average is $10.62 and its 200 day moving average is $11.78. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -1.31 and a beta of 1.34. The company has a debt-to-equity ratio of 4.59, a current ratio of 3.18 and a quick ratio of 3.18.
Biohaven (NYSE:BHVN – Get Free Report) last released its earnings results on Monday, March 2nd. The company reported ($1.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.01. On average, analysts predict that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of BHVN. PNC Financial Services Group Inc. lifted 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 buying an additional 1,268 shares during the last quarter. IFP Advisors Inc increased its holdings in Biohaven by 55.4% in the fourth quarter. IFP Advisors Inc now owns 4,069 shares of the company’s stock worth $46,000 after buying an additional 1,450 shares during the last quarter. EverSource Wealth Advisors LLC raised its position 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 acquiring an additional 2,583 shares in the last quarter. Arax Advisory Partners lifted its stake in Biohaven by 943.3% in the fourth 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 last quarter. Finally, PFS Partners LLC acquired a new stake in Biohaven in the third quarter valued at approximately $60,000. 88.78% of the stock is owned by institutional investors and hedge funds.
Biohaven Company Profile
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.