Jefferies Financial Group Initiates Coverage on Biohaven (NYSE:BHVN)

Equities researchers at Jefferies Financial Group began coverage on shares of Biohaven (NYSE:BHVN) in a note issued to investors on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $57.00 price target on the stock. Jefferies Financial Group’s price target points to a potential upside of 46.12% from the stock’s current price.

BHVN has been the topic of a number of other reports. Sanford C. Bernstein began coverage on shares of Biohaven in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $55.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Monday, August 19th. HC Wainwright restated a “buy” rating and set a $59.00 target price on shares of Biohaven in a report on Thursday, May 30th. UBS Group dropped their target price on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $59.00 target price on shares of Biohaven in a report on Wednesday, September 4th. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $54.70.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $39.01 on Monday. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of -5.71 and a beta of 1.30. The firm’s 50 day simple moving average is $38.12 and its 200 day simple moving average is $41.27. Biohaven has a fifty-two week low of $16.45 and a fifty-two week high of $62.21.

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

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs purchased 28,400 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following 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 accessible through this link. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Hedge funds have recently made changes to their positions in the business. Perceptive Advisors LLC grew its stake in shares of 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 acquiring an additional 973,227 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Biohaven by 20.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,904 shares of the company’s stock valued at $22,209,000 after buying an additional 86,890 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after buying an additional 4,650,702 shares in the last quarter. CWM LLC grew its stake in shares of Biohaven by 1,893.4% in the second quarter. CWM LLC now owns 14,552 shares of the company’s stock valued at $505,000 after buying an additional 13,822 shares in the last quarter. Finally, Oak Ridge Investments LLC grew its stake in shares of Biohaven by 197.6% in the second quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock valued at $764,000 after buying an additional 14,607 shares in the last quarter. 88.78% of the stock is 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.