Biohaven Ltd. (NYSE:BHVN) Receives $63.15 Consensus Target Price from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have earned an average rating of “Buy” from the fifteen research firms that are covering the firm, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $63.15.

A number of brokerages recently issued reports on BHVN. JPMorgan Chase & Co. dropped their price target on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. HC Wainwright restated a “buy” rating and issued a $54.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft started coverage on Biohaven in a research note on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Finally, Morgan Stanley reduced their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, March 7th.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 32,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. The trade was a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management bought a new stake in shares of Biohaven during the fourth quarter valued at approximately $56,000. US Bancorp DE increased its position in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after acquiring an additional 790 shares during the period. KBC Group NV increased its position in Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares during the period. Amalgamated Bank raised its stake in Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after acquiring an additional 527 shares in the last quarter. Finally, Quarry LP acquired a new position in Biohaven during the 4th quarter worth $112,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $29.24 on Wednesday. Biohaven has a 1 year low of $26.80 and a 1 year high of $60.46. The stock’s 50-day simple moving average is $37.06 and its 200-day simple moving average is $42.08. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of -3.13 and a beta of 1.27.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.29). As a group, research analysts predict that Biohaven will post -8.9 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.