Cantor Fitzgerald Reiterates Overweight Rating for Biohaven (NYSE:BHVN)

Cantor Fitzgerald restated their overweight rating on shares of Biohaven (NYSE:BHVN) in a research report released on Tuesday morning, Benzinga reports.

Several other research analysts also recently commented on the company. Sanford C. Bernstein initiated coverage on Biohaven in a research note on Wednesday, September 4th. They set an outperform rating and a $55.00 target price for the company. UBS Group reduced their price objective on shares of Biohaven from $55.00 to $54.00 and set a buy rating for the company in a research report on Tuesday, August 13th. Jefferies Financial Group started coverage on shares of Biohaven in a research report on Monday, September 16th. They issued a buy rating and a $57.00 price objective on the stock. Leerink Partners lifted their target price on shares of Biohaven from $55.00 to $60.00 and gave the stock an outperform rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada increased their price target on shares of Biohaven from $59.00 to $68.00 and gave the company an outperform rating in a report on Tuesday. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $60.92.

Biohaven Trading Down 0.4 %

Shares of BHVN opened at $51.00 on Tuesday. The company’s fifty day simple moving average is $39.53 and its 200 day simple moving average is $40.75. Biohaven has a 1-year low of $22.12 and a 1-year high of $62.21. The company has a market cap of $4.50 billion, a price-to-earnings ratio of -7.47 and a beta of 1.30.

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

Insider Activity

In other news, Director Gregory Bailey purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was bought at an average price of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John W. Childs bought 28,400 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the transaction, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BHVN. Principal Financial Group Inc. grew its position in shares of Biohaven by 47.6% in the 4th quarter. Principal Financial Group Inc. now owns 27,935 shares of the company’s stock valued at $1,196,000 after buying an additional 9,005 shares during the last quarter. TD Asset Management Inc boosted its holdings in Biohaven by 31.0% in the fourth quarter. TD Asset Management Inc now owns 276,172 shares of the company’s stock worth $11,820,000 after acquiring an additional 65,426 shares in the last quarter. Stifel Financial Corp grew its stake in Biohaven by 7.9% in the fourth quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock valued at $266,465,000 after acquiring an additional 456,062 shares during the period. Capstone Investment Advisors LLC bought a new stake in Biohaven during the 4th quarter valued at $235,000. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Biohaven during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 88.78% of the company’s stock.

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.