Biohaven (NYSE:BHVN) Receives “Buy” Rating from HC Wainwright

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

A number of other equities analysts have also recently issued reports on the stock. TD Cowen upped their price objective on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Robert W. Baird raised their price objective on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Royal Bank of Canada lowered their target price on Biohaven from $66.00 to $58.00 and set an “outperform” rating for the company in a report on Monday. Finally, Sanford C. Bernstein boosted their price target on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Biohaven presently has a consensus rating of “Buy” and a consensus price target of $62.75.

Biohaven Stock Performance

Shares of BHVN stock opened at $47.31 on Tuesday. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The stock’s fifty day moving average price is $49.23 and its two-hundred day moving average price is $41.13. The company has a market cap of $4.78 billion, a PE ratio of -5.06 and a beta of 1.31.

Biohaven (NYSE:BHVN) last released its quarterly earnings data 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, equities analysts predict that Biohaven will post -8.85 EPS for the current fiscal year.

Insider Activity

In related news, Director John W. Childs purchased 21,052 shares of Biohaven stock in a transaction that occurred on Wednesday, October 2nd. The stock was bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the transaction, the director now owns 21,052 shares in the company, valued at $999,970. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was bought at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. This trade represents 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 corporate insiders.

Hedge Funds Weigh In On Biohaven

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