Biohaven (NYSE:BHVN) Given Buy Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Biohaven (NYSE:BHVN) in a report released on Tuesday,Benzinga reports. They currently have a $59.00 price target on the stock.

BHVN has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Jefferies Financial Group assumed coverage on Biohaven in a research report on Monday, September 16th. They set a “buy” rating and a $57.00 price target on the stock. Sanford C. Bernstein boosted their price objective on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. UBS Group lowered their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Piper Sandler increased their price target on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $62.75.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $47.31 on Tuesday. The firm has a fifty day moving average price of $49.23 and a two-hundred day moving average price of $41.13. The company has a market cap of $4.78 billion, a price-to-earnings ratio of -5.06 and a beta of 1.31. Biohaven has a one year low of $26.80 and a one year high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Equities research analysts expect that Biohaven will post -8.85 EPS for the current fiscal year.

Insider Activity

In other Biohaven news, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average price of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This trade represents a 0.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Childs acquired 21,052 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the acquisition, the director now owns 21,052 shares of the company’s stock, valued at $999,970. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Several hedge funds and other institutional investors have recently modified their holdings of BHVN. nVerses Capital LLC purchased a new position in Biohaven during the third quarter valued at $50,000. Redwood Wealth Management Group LLC purchased a new position in shares of Biohaven during the 2nd quarter valued at about $61,000. Values First Advisors Inc. bought a new position in shares of Biohaven during the 3rd quarter valued at approximately $78,000. US Bancorp DE increased its holdings in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV raised its stake in Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares during the period. 88.78% of the stock is currently owned by hedge funds and other 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.