Biohaven (NYSE:BHVN) Trading Down 4.8%

Biohaven Ltd. (NYSE:BHVN)’s stock price traded down 4.8% during trading on Friday . The company traded as low as $39.63 and last traded at $40.13. 586,470 shares traded hands during trading, a decline of 51% from the average session volume of 1,204,868 shares. The stock had previously closed at $42.16.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BHVN shares. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research note on Tuesday, April 9th. TD Cowen raised their price objective on shares of Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. UBS Group began coverage on shares of Biohaven in a research note on Tuesday, February 6th. They issued a “buy” rating and a $59.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, HC Wainwright boosted their price objective on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $52.00.

Biohaven Stock Down 7.6 %

The firm has a market capitalization of $3.18 billion, a P/E ratio of -7.06 and a beta of 1.18. The business has a 50-day moving average price of $52.03 and a 200-day moving average price of $41.24.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). As a group, sell-side analysts forecast that Biohaven Ltd. will post -5.85 EPS for the current year.

Institutional Trading of Biohaven

Large investors have recently bought and sold shares of the company. US Bancorp DE increased its stake in shares of Biohaven by 19.1% in the 1st quarter. US Bancorp DE now owns 586 shares of the company’s stock worth $70,000 after purchasing an additional 94 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Biohaven during the first quarter worth approximately $200,000. KBC Group NV purchased a new position in Biohaven during the fourth quarter valued at approximately $74,000. Zebra Capital Management LLC purchased a new position in Biohaven in the first quarter valued at $236,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Biohaven during the first quarter worth about $269,000. 88.78% of the stock is owned by institutional investors.

Biohaven Company Profile

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.