Biohaven Ltd (NYSE: BHVN): Incline Of 52.75% Looks Weak With A Stock Forecast 2024

In the last trading session, 1.22 million shares of the Biohaven Ltd (NYSE:BHVN) were traded, and its beta was 4.24. Most recently the company’s share price was $50.79, and it changed around -$1.27 or -2.44% from the last close, which brings the market valuation of the company to $4.15B. BHVN currently trades at a discount to its 52-week high of $62.21, offering almost -22.48% off that amount. The share price’s 52-week low was $12.35, which indicates that the current value has risen by an impressive 75.68% since then. We note from Biohaven Ltd’s average daily trading volume that its 10-day average is 1.33 million shares, with the 3-month average coming to 1.19 million.

Biohaven Ltd stock received a consensus recommendation rating of Buy, based on a mean score of 1.09. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended BHVN as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Biohaven Ltd is expected to report earnings per share of -$1.55 for the current quarter.

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Biohaven Ltd (NYSE:BHVN) trade information

Instantly BHVN has showed a red trend with a performance of -2.44% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 18.67% year-to-date, but still down -8.04% over the last five days. On the other hand, Biohaven Ltd (NYSE:BHVN) is 2.52% up in the 30-day period. We can see from the shorts that 8.63 million shares have been sold at a short interest cover period of 5.95 day(s).

The consensus price target as assigned by Wall Street analysts is $23.5, which translates to bulls needing to decrease their stock price by -116.13% from its current value. Analyst projections state that BHVN is forecast to be at a low of $23 and a high of $24.

Biohaven Ltd (BHVN) estimates and forecasts

Biohaven Ltd share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 95.27 percent over the past six months and at a -2.09% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -50.50% in revenue this quarter, and will report a decrease of -19.70% in the next quarter.

BHVN Dividends

Biohaven Ltd’s next quarterly earnings report is expected to be released in May.

Biohaven Ltd (NYSE:BHVN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 13.63% of Biohaven Ltd shares, and 89.94% of them are in the hands of institutional investors. The stock currently has a share float of 104.14%. Biohaven Ltd stock is held by 305 institutions, with Stifel Financial Corporation being the largest institutional investor. By Jun 29, 2023, it held 8.23% of the shares, which is about 5.62 million shares worth $134.42 million.

Janus Henderson Group PLC, with 7.78% or 5.32 million shares worth $127.18 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Fidelity Select Portfolios – Biotechnology and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF were the top two Mutual Funds as of Aug 30, 2023. The former held 2.3 million shares worth $42.08 million, making up 3.37% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF held roughly 1.6 million shares worth around $29.22 million, which represents about 2.34% of the total shares outstanding.