Biohaven (NYSE:BHVN) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Biohaven (NYSE:BHVN) in a research note released on Wednesday, Benzinga reports.

Other analysts have also recently issued reports about the company. William Blair raised Biohaven to a “strong-buy” rating in a report on Friday, August 30th. HC Wainwright reaffirmed a “buy” rating and issued a $59.00 price target on shares of Biohaven in a research note on Tuesday, September 24th. Sanford C. Bernstein upped their price target on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. UBS Group lowered their price target 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, Jefferies Financial Group assumed coverage on Biohaven in a research note on Monday, September 16th. They issued a “buy” rating and a $57.00 price target for the company. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $61.92.

Biohaven Trading Up 0.9 %

Shares of NYSE:BHVN opened at $52.84 on Wednesday. The stock has a market capitalization of $4.67 billion, a P/E ratio of -7.74 and a beta of 1.31. Biohaven has a 1-year low of $25.97 and a 1-year high of $62.21. The business has a 50-day moving average price of $44.87 and a two-hundred day moving average price of $40.11.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($1.92). As a group, equities analysts predict that Biohaven will post -8.82 EPS for the current year.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs bought 21,052 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of $47.50 per share, with a total value of $999,970.00. Following the purchase, the director now owns 21,052 shares in the company, valued at $999,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction on 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 in the company, valued at $71,590,937.49. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John W. Childs purchased 21,052 shares of Biohaven stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $47.50 per share, with a total value of $999,970.00. Following the transaction, the director now 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.

Hedge Funds Weigh In On Biohaven

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Biohaven by 280.5% in the 1st 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 during the last quarter. Oak Ridge Investments LLC boosted its holdings in shares of Biohaven by 197.6% in the 2nd 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 during the last quarter. CWM LLC boosted its holdings in shares of Biohaven by 1,893.4% in the 2nd quarter. CWM LLC now owns 14,552 shares of the company’s stock valued at $505,000 after buying an additional 13,822 shares during the last quarter. Bellevue Group AG boosted its holdings in shares of Biohaven by 7.0% in the 1st quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock valued at $62,894,000 after buying an additional 75,000 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Biohaven in the 1st quarter valued at approximately $7,276,000. Institutional investors and hedge funds 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.