Biohaven Ltd. (NYSE:BHVN) Given Consensus Recommendation of “Buy” by Brokerages

Biohaven Ltd. (NYSE:BHVN) has been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $54.71.

BHVN has been the subject of a number of research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Biohaven in a report on Tuesday, June 18th. UBS Group lifted their price target on shares of Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. HC Wainwright reiterated a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research note on Thursday, May 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Thursday, May 30th.

Insiders Place Their Bets

In other Biohaven news, CEO Vlad Coric bought 121,951 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the purchase, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Vlad Coric bought 121,951 shares of the stock in a transaction on Monday, April 22nd. The shares were purchased at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the purchase, the chief executive officer now owns 1,788,417 shares in the company, valued at $73,325,097. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Childs purchased 28,500 shares of the company’s stock in a transaction on Monday, May 13th. The shares were bought at an average price of $35.17 per share, for a total transaction of $1,002,345.00. Following the completion of the transaction, the director now directly owns 2,283,341 shares in the company, valued at approximately $80,305,102.97. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 252,734 shares of company stock worth $9,997,764. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHVN. Farallon Capital Management LLC boosted its position in shares of Biohaven by 6.5% during the 1st quarter. Farallon Capital Management LLC now owns 799,000 shares of the company’s stock valued at $43,697,000 after purchasing an additional 49,000 shares in the last quarter. Virtu Financial LLC bought a new stake in Biohaven during the first quarter worth approximately $455,000. Kennedy Capital Management LLC bought a new stake in Biohaven during the first quarter worth approximately $12,099,000. Darwin Global Management Ltd. acquired a new position in Biohaven in the first quarter worth approximately $80,776,000. Finally, Bellevue Group AG increased its holdings in shares of Biohaven by 7.0% in the first quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock valued at $62,894,000 after buying an additional 75,000 shares in the last quarter. 88.78% of the stock is owned by institutional investors.

Biohaven Stock Performance

NYSE:BHVN opened at $33.79 on Friday. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of -4.95 and a beta of 1.32. Biohaven has a one year low of $16.45 and a one year high of $62.21. The stock has a 50-day simple moving average of $36.16 and a 200 day simple moving average of $43.87.

Biohaven (NYSE:BHVN) last issued its earnings results on Thursday, May 9th. The company reported ($2.20) EPS for the quarter, missing the consensus estimate of ($1.50) by ($0.70). On average, equities research analysts forecast that Biohaven will post -7.16 EPS for the current fiscal year.

About Biohaven

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.