Biohaven’s (BHVN) Overweight Rating Reiterated at Cantor Fitzgerald

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

Several other analysts also recently weighed in on BHVN. Sanford C. Bernstein lifted their price objective on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. William Blair raised shares of Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Jefferies Financial Group began coverage on shares of Biohaven in a report on Monday, September 16th. They set a “buy” rating and a $57.00 price objective on the stock. HC Wainwright restated a “buy” rating and set a $59.00 target price on shares of Biohaven in a report on Tuesday. Finally, Leerink Partners lifted their price target on Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $63.00.

Biohaven Price Performance

Shares of BHVN stock opened at $35.34 on Tuesday. The company has a market capitalization of $3.57 billion, a P/E ratio of -3.78 and a beta of 1.24. The company’s 50-day simple moving average is $47.88 and its two-hundred day simple moving average is $41.86. Biohaven has a one year low of $26.80 and a one year high of $62.21.

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

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs purchased 21,052 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now owns 21,052 shares of the company’s stock, valued at $999,970. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Bailey purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was bought at an average cost of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The trade was a 0.31 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by company insiders.

Institutional Trading of Biohaven

Several large investors have recently added to or reduced their stakes in BHVN. Franklin Resources Inc. raised its stake in shares of Biohaven by 0.5% in the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock worth $4,206,000 after purchasing an additional 412 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Biohaven in the third quarter worth $246,000. Geode Capital Management LLC increased its stake in shares of Biohaven by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,714,612 shares of the company’s stock worth $85,696,000 after acquiring an additional 44,174 shares during the period. Barclays PLC raised its holdings in shares of Biohaven by 87.6% during the third quarter. Barclays PLC now owns 268,077 shares of the company’s stock worth $13,396,000 after purchasing an additional 125,189 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in Biohaven during the third quarter valued at $1,339,000. 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.