Analysts Set Biohaven Ltd. (NYSE:BHVN) Price Target at $61.92

Shares of Biohaven Ltd. (NYSE:BHVN) have received a consensus recommendation of “Buy” from the fourteen research firms that are covering the stock, MarketBeat.com reports. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $61.92.

Several research analysts have recently issued reports on BHVN shares. JPMorgan Chase & Co. raised their price target on Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Leerink Partners increased their price target on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $59.00 price objective on shares of Biohaven in a report on Tuesday, September 24th. Piper Sandler lifted their price target on shares of Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, UBS Group lowered their price objective on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs bought 21,052 shares of Biohaven stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now owns 21,052 shares of the company’s stock, valued at $999,970. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were bought at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John W. Childs acquired 21,052 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the acquisition, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The disclosure for this purchase can be found here. 16.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biohaven

A number of hedge funds have recently made changes to their positions in BHVN. Commonwealth Equity Services LLC increased its holdings in Biohaven by 7.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 12,188 shares of the company’s stock worth $667,000 after purchasing an additional 830 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Biohaven in the first quarter valued at approximately $766,000. SG Americas Securities LLC bought a new position in Biohaven in the 1st quarter valued at approximately $644,000. Swiss National Bank lifted its holdings in shares of Biohaven by 6.3% during the first quarter. Swiss National Bank now owns 142,500 shares of the company’s stock worth $7,793,000 after purchasing an additional 8,400 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Biohaven during the first quarter worth about $2,152,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Stock Up 0.7 %

Shares of BHVN opened at $53.47 on Thursday. The stock’s fifty day simple moving average is $47.04 and its 200-day simple moving average is $40.57. The firm has a market capitalization of $5.06 billion, a PE ratio of -5.84 and a beta of 1.31. Biohaven has a 12-month low of $26.80 and a 12-month high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Analysts anticipate that Biohaven will post -8.81 EPS for the current 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.