Biohaven Ltd. (NYSE:BHVN) Receives Consensus Rating of “Buy” from Brokerages

Biohaven Ltd. (NYSE:BHVN) has been given a consensus rating of “Buy” by the fourteen ratings firms that are covering the firm, MarketBeat.com reports. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $61.92.

A number of research analysts have recently commented on BHVN shares. 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. Robert W. Baird upped their price objective on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Piper Sandler upped their price objective on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Sanford C. Bernstein upped their price objective on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Finally, Morgan Stanley initiated coverage on shares of Biohaven in a research report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price for the company.

Insider Transactions at Biohaven

In related news, Director Gregory Bailey acquired 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The stock was bought at an average price of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John W. Childs bought 28,400 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the acquisition, the director now directly owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Bailey bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased 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 owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 54,452 shares of company stock valued at $2,233,948 in the last quarter. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biohaven

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Biohaven by 280.5% during the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after acquiring an additional 4,650,702 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Biohaven by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock valued at $183,050,000 after purchasing an additional 212,699 shares during the last quarter. Farallon Capital Management LLC increased its position in shares of Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after purchasing an additional 1,449,000 shares during the last quarter. Darwin Global Management Ltd. purchased a new stake in shares of Biohaven during the 1st quarter valued at $80,776,000. Finally, Armistice Capital LLC increased its position in shares of Biohaven by 74.8% during the 2nd quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock valued at $48,489,000 after purchasing an additional 597,705 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors.

Biohaven Stock Up 4.4 %

BHVN opened at $53.73 on Friday. Biohaven has a twelve month low of $25.38 and a twelve month high of $62.21. The company has a 50-day simple moving average of $41.89 and a 200 day simple moving average of $40.17. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -5.87 and a beta of 1.31.

Biohaven (NYSE:BHVN) last posted its earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). Sell-side analysts anticipate that Biohaven will post -8.82 EPS for the current fiscal year.

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.