Biohaven (NYSE:BHVN) PT Raised to $60.00 at Robert W. Baird

Biohaven (NYSE:BHVN) had its target price increased by stock analysts at Robert W. Baird from $58.00 to $60.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 28.87% from the company’s current price.

Several other equities analysts have also commented on BHVN. HC Wainwright reissued a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and set a $59.00 target price on shares of Biohaven in a research report on Wednesday, September 4th. Jefferies Financial Group began coverage on Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 price objective for the company. Morgan Stanley started coverage on shares of Biohaven in a research note on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price objective for the company. Finally, William Blair raised Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $58.90.

Biohaven Stock Up 15.3 %

Shares of NYSE:BHVN traded up $6.17 during trading on Monday, hitting $46.56. 4,766,045 shares of the company were exchanged, compared to its average volume of 1,167,707. The company has a market capitalization of $4.11 billion, a P/E ratio of -6.64 and a beta of 1.30. The business’s 50 day moving average is $38.35 and its 200-day moving average is $40.83. Biohaven has a 1-year low of $16.48 and a 1-year high of $62.21.

Biohaven (NYSE:BHVN) last announced its 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). As a group, sell-side analysts anticipate that Biohaven will post -8.92 earnings per share for the current year.

Insider Activity at Biohaven

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

Institutional Trading of Biohaven

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake 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 buying an additional 4,650,702 shares in the last quarter. Darwin Global Management Ltd. acquired a new position in shares of Biohaven in the 1st quarter valued at $80,776,000. Point72 Asset Management L.P. increased its holdings in shares of Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after acquiring an additional 1,458,072 shares during the period. Farallon Capital Management LLC lifted its position in Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock worth $78,028,000 after acquiring an additional 1,449,000 shares during the period. Finally, Bellevue Group AG purchased a new stake in shares of Biohaven in the fourth quarter valued at about $46,010,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

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.