Biohaven (NYSE:BHVN) Hits New 12-Month Low – Time to Sell?

by · The Markets Daily

Biohaven Ltd. (NYSE:BHVN – Get Free Report) reached a new 52-week low on Thursday . The stock traded as low as $20.50 and last traded at $20.69, with a volume of 491979 shares changing hands. The stock had previously closed at $23.68.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BHVN shares. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and set a $54.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on Biohaven and gave the stock a “buy” rating in a research report on Thursday, March 20th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $62.77.

View Our Latest Analysis on Biohaven

Biohaven Price Performance

The company’s 50 day simple moving average is $34.21 and its 200 day simple moving average is $41.09. The stock has a market cap of $2.09 billion, a P/E ratio of -2.19 and a beta of 1.33.

Biohaven (NYSE:BHVN – Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). On average, equities research analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John W. Childs acquired 32,700 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the transaction, the director now directly owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Biohaven by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after purchasing an additional 628,211 shares during the last quarter. Janus Henderson Group PLC grew its position in Biohaven by 12.1% in the fourth quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company’s stock valued at $260,735,000 after acquiring an additional 756,032 shares during the last quarter. Stifel Financial Corp raised its stake in Biohaven by 0.8% during the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company’s stock worth $244,990,000 after acquiring an additional 50,052 shares in the last quarter. Suvretta Capital Management LLC lifted its holdings in shares of Biohaven by 8.1% in the fourth quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company’s stock worth $209,917,000 after acquiring an additional 421,052 shares during the last quarter. Finally, Farallon Capital Management LLC boosted its stake in shares of Biohaven by 21.6% in the 4th quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company’s stock valued at $165,392,000 after purchasing an additional 785,578 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Company Profile

(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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