Biohaven’s (BHVN) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Biohaven (NYSE:BHVN) in a research note published on Tuesday,Benzinga reports. They currently have a $59.00 price target on the stock.

BHVN has been the topic of a number of other research reports. William Blair raised Biohaven to a “strong-buy” rating in a report on Friday, August 30th. TD Cowen lifted their price objective on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. increased their target price on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Royal Bank of Canada lowered their price objective on shares of Biohaven from $66.00 to $58.00 and set an “outperform” rating for the company in a research report on Monday, November 25th. Finally, Robert W. Baird raised their target price on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $62.75.

Biohaven Trading Down 0.8 %

BHVN stock opened at $46.01 on Tuesday. The firm has a 50 day simple moving average of $49.65 and a 200-day simple moving average of $41.28. The company has a market capitalization of $4.65 billion, a P/E ratio of -4.92 and a beta of 1.31. Biohaven has a twelve month low of $26.80 and a twelve month high of $62.21.

Biohaven (NYSE:BHVN) last released its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, research analysts predict that Biohaven will post -8.85 EPS for the current year.

Insider Transactions at Biohaven

In other news, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.31 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director John W. Childs purchased 21,052 shares of the business’s stock in a transaction 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 completion of the acquisition, the director now directly owns 21,052 shares in the company, valued at $999,970. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Biohaven in the third quarter worth $50,000. Redwood Wealth Management Group LLC acquired a new stake in Biohaven during the 2nd quarter worth about $61,000. Values First Advisors Inc. purchased a new position in Biohaven during the 3rd quarter valued at about $78,000. US Bancorp DE increased its holdings in shares of Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after purchasing an additional 790 shares during the period. Finally, KBC Group NV lifted its position in shares of Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after purchasing an additional 443 shares in the last quarter. 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.