Biohaven (NYSE:BHVN) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Biohaven (NYSE:BHVN) in a research note published on Tuesday, MarketBeat.com reports. The brokerage issued a buy rating and a $65.00 price objective on the stock.

Other equities analysts have also recently issued research reports about the stock. TD Cowen upped their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Finally, HC Wainwright restated a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a report on Tuesday, December 17th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $63.15.

Biohaven Stock Up 11.6 %

Shares of BHVN opened at $42.67 on Tuesday. The stock has a market cap of $4.31 billion, a P/E ratio of -4.56 and a beta of 1.28. The business’s 50 day moving average price is $38.75 and its 200-day moving average price is $42.63. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21.

Biohaven (NYSE:BHVN) last released its earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, equities analysts anticipate that Biohaven will post -8.9 EPS for the current year.

Insider Activity

In other Biohaven news, Director John W. Childs bought 29,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the transaction, the director now owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This represents a 1.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Biohaven by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after purchasing an additional 628,211 shares in the last quarter. Stifel Financial Corp grew its holdings in Biohaven by 0.4% during the third quarter. Stifel Financial Corp now owns 6,509,261 shares of the company’s stock valued at $325,268,000 after purchasing an additional 28,684 shares during the period. Janus Henderson Group PLC increased its position in Biohaven by 5.6% in the third quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock worth $311,142,000 after buying an additional 328,099 shares in the last quarter. Geode Capital Management LLC raised 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 buying an additional 44,174 shares during the period. Finally, Point72 Asset Management L.P. lifted its position in shares of Biohaven by 745.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock valued at $74,969,000 after buying an additional 1,322,922 shares in the last quarter. Hedge funds and other institutional investors 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.