Biohaven’s (BHVN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Biohaven (NYSE:BHVN) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $59.00 price objective on the stock.

Several other brokerages also recently issued reports on BHVN. Morgan Stanley assumed coverage on shares of Biohaven in a research note on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 target price for the company. Bank of America lifted their target price on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Piper Sandler boosted their target price on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. TD Cowen raised their price target on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Biohaven presently has an average rating of “Buy” and an average price target of $63.42.

Biohaven Stock Down 8.8 %

BHVN stock opened at $44.39 on Thursday. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -4.75 and a beta of 1.31. Biohaven has a twelve month low of $26.80 and a twelve month high of $62.21. The business has a 50 day moving average price of $48.16 and a two-hundred day moving average price of $40.93.

Biohaven (NYSE:BHVN) last released its earnings results 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 research analysts anticipate that Biohaven will post -8.87 EPS for the current fiscal year.

Insider Activity at Biohaven

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in Biohaven during the third quarter worth about $50,000. Redwood Wealth Management Group LLC acquired a new position in shares of Biohaven in the 2nd quarter valued at approximately $61,000. Values First Advisors Inc. acquired a new stake in shares of Biohaven during the 3rd quarter worth approximately $78,000. US Bancorp DE increased its stake in Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after acquiring an additional 790 shares during the last quarter. Finally, KBC Group NV lifted its stake in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after purchasing an additional 443 shares during the last quarter. Institutional investors and hedge funds 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.