Fintel reports that on December 22, 2023, HC Wainwright & Co. initiated coverage of Biohaven (NYSE:BHVN) with a Buy recommendation.
Analyst Price Forecast Suggests 5.47% Downside
As of December 18, 2023, the average one-year price target for Biohaven is 37.89. The forecasts range from a low of 31.31 to a high of $60.90. The average price target represents a decrease of 5.47% from its latest reported closing price of 40.08.
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The projected annual revenue for Biohaven is 0MM. The projected annual non-GAAP EPS is -4.44.
What is the Fund Sentiment?
There are 422 funds or institutions reporting positions in Biohaven. This is an increase of 25 owner(s) or 6.30% in the last quarter. Average portfolio weight of all funds dedicated to BHVN is 0.39%, an increase of 15.04%. Total shares owned by institutions increased in the last three months by 8.45% to 73,595K shares. The put/call ratio of BHVN is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
Stifel Financial holds 5,770K shares representing 7.19% ownership of the company. In it's prior filing, the firm reported owning 5,620K shares, representing an increase of 2.60%. The firm decreased its portfolio allocation in BHVN by 71.73% over the last quarter.
Janus Henderson Group holds 5,326K shares representing 6.64% ownership of the company. In it's prior filing, the firm reported owning 5,317K shares, representing an increase of 0.16%. The firm decreased its portfolio allocation in BHVN by 59.14% over the last quarter.
Suvretta Capital Management holds 4,006K shares representing 4.99% ownership of the company. In it's prior filing, the firm reported owning 3,868K shares, representing an increase of 3.45%. The firm increased its portfolio allocation in BHVN by 13.82% over the last quarter.
Hbk Investments L P holds 3,550K shares representing 4.42% ownership of the company. In it's prior filing, the firm reported owning 825K shares, representing an increase of 76.76%. The firm increased its portfolio allocation in BHVN by 224.71% over the last quarter.
RP Management holds 2,937K shares representing 3.66% ownership of the company. No change in the last quarter.
Biohaven Background Information
(This description is provided by the company.)
Biohaven Pharmaceutical Holding Company Ltd. is a commercial-stage biopharmaceutical company with a portfolio of innovative, best-in-class therapies to improve the lives of patients with debilitating neurological and neuropsychiatric diseases, including rare disorders. Biohaven's neuroinnovation portfolio includes FDA-approved NURTEC ODT (rimegepant) for the acute treatment of migraine and a broad pipeline of late-stage product candidates across three distinct mechanistic platforms: CGRP receptor antagonism for the acute and preventive treatment of migraine; glutamate modulation for obsessive-compulsive disorder, Alzheimer's disease, and spinocerebellar ataxia; and MPO inhibition for multiple system atrophy and amyotrophic lateral sclerosis.
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This story originally appeared on Fintel.
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