Biohaven Ltd. (NYSE:BHVN) Given Average Rating of “Buy” by Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have received an average rating of “Buy” from the fifteen brokerages that are presently covering the firm, MarketBeat.com reports. Fourteen analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $63.15.

Several research firms recently issued reports on BHVN. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. TD Cowen increased their target price on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on Biohaven in a research note on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective (up from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Finally, HC Wainwright reissued a “buy” rating and set a $59.00 price objective on shares of Biohaven in a report on Tuesday, December 17th.

Biohaven Price Performance

Shares of Biohaven stock opened at $36.90 on Friday. The company’s fifty day moving average price is $38.35 and its two-hundred day moving average price is $42.71. The firm has a market capitalization of $3.73 billion, a PE ratio of -3.95 and a beta of 1.28. Biohaven has a 52-week low of $26.80 and a 52-week high of $62.21.

Insiders Place Their Bets

In related news, Director John W. Childs acquired 29,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the transaction, the director now directly owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Creative Planning raised its position in shares of Biohaven by 57.9% during the third quarter. Creative Planning now owns 18,209 shares of the company’s stock worth $910,000 after acquiring an additional 6,674 shares during the last quarter. nVerses Capital LLC bought a new stake in Biohaven during the 3rd quarter worth about $50,000. Cadent Capital Advisors LLC acquired a new position in Biohaven during the 3rd quarter valued at about $1,771,000. Values First Advisors Inc. bought a new position in shares of Biohaven in the 3rd quarter valued at about $78,000. Finally, US Bancorp DE grew its position in shares of Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after buying an additional 790 shares during the period. 88.78% of the stock is currently owned by 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.