Brokerages Set Biohaven Ltd. (NYSE:BHVN) PT at $54.70

Shares of Biohaven Ltd. (NYSE:BHVN) have earned an average recommendation of “Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $54.70.

A number of brokerages have recently commented on BHVN. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Monday, August 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 target price on shares of Biohaven in a report on Wednesday, September 4th. Morgan Stanley started coverage on Biohaven in a report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price on the stock. William Blair upgraded Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Finally, Sanford C. Bernstein initiated coverage on Biohaven in a report on Wednesday, September 4th. They set an “outperform” rating and a $55.00 target price on the stock.

Biohaven Stock Down 0.1 %

Shares of Biohaven stock opened at $40.39 on Wednesday. Biohaven has a 12 month low of $16.45 and a 12 month high of $62.21. The business has a fifty day simple moving average of $38.31 and a 200 day simple moving average of $41.18. The stock has a market cap of $3.57 billion, a PE ratio of -5.91 and a beta of 1.30.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). Analysts expect that Biohaven will post -8.92 EPS for the current fiscal year.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs bought 28,400 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the purchase, the director now directly owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The acquisition was disclosed in a filing with the SEC, which is available at this link. 16.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Perceptive Advisors LLC raised its position in Biohaven by 129.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after purchasing an additional 973,227 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Biohaven by 20.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,904 shares of the company’s stock worth $22,209,000 after purchasing an additional 86,890 shares during the last quarter. Vanguard Group Inc. raised its position in Biohaven by 280.5% during the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after purchasing an additional 4,650,702 shares during the last quarter. CWM LLC raised its position in Biohaven by 1,893.4% during the 2nd quarter. CWM LLC now owns 14,552 shares of the company’s stock worth $505,000 after purchasing an additional 13,822 shares during the last quarter. Finally, Oak Ridge Investments LLC raised its position in Biohaven by 197.6% during the 2nd quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock worth $764,000 after purchasing an additional 14,607 shares during the last quarter. 88.78% of the stock is currently 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.