Biohaven (NYSE:BHVN) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Biohaven (NYSE:BHVN) in a research note issued to investors on Thursday, Benzinga reports.

BHVN has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on shares of Biohaven from $32.00 to $56.00 and gave the company an overweight rating in a report on Friday, February 23rd. HC Wainwright lifted their price target on shares of Biohaven from $50.00 to $63.00 and gave the stock a buy rating in a report on Monday, March 4th. UBS Group initiated coverage on shares of Biohaven in a report on Tuesday, February 6th. They set a buy rating and a $59.00 price target for the company. TD Cowen lifted their price target on shares of Biohaven from $35.00 to $55.00 and gave the stock an outperform rating in a report on Friday, March 1st. Finally, Royal Bank of Canada reiterated an outperform rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday, April 9th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $52.00.

Biohaven Trading Down 4.2 %

NYSE:BHVN opened at $42.16 on Thursday. The firm has a 50-day moving average price of $52.03 and a two-hundred day moving average price of $41.24. Biohaven has a twelve month low of $12.35 and a twelve month high of $62.21. The company has a market capitalization of $3.44 billion, a P/E ratio of -7.45 and a beta of 1.18.

Biohaven (NYSE:BHVN) last posted its earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.40). On average, equities research analysts predict that Biohaven will post -5.85 earnings per share for the current year.

Institutional Investors Weigh In On Biohaven

Institutional investors have recently bought and sold shares of the stock. Simon Quick Advisors LLC grew its holdings in Biohaven by 36.3% in the fourth quarter. Simon Quick Advisors LLC now owns 74,968 shares of the company’s stock valued at $3,209,000 after purchasing an additional 19,968 shares during the period. Citigroup Inc. grew its holdings in Biohaven by 97.9% in the third quarter. Citigroup Inc. now owns 146,907 shares of the company’s stock valued at $3,821,000 after purchasing an additional 72,673 shares during the period. Legato Capital Management LLC purchased a new stake in Biohaven in the fourth quarter valued at approximately $469,000. Monashee Investment Management LLC grew its holdings in Biohaven by 80.0% in the third quarter. Monashee Investment Management LLC now owns 90,000 shares of the company’s stock valued at $2,341,000 after purchasing an additional 40,000 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Biohaven in the third quarter valued at approximately $923,000. 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.