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

HC Wainwright reiterated their buy rating on shares of Biohaven (NYSE:BHVN) in a report published on Tuesday,Benzinga reports. They currently have a $59.00 target price on the stock.

A number of other equities analysts also recently commented on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. Piper Sandler raised their price target on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Robert W. Baird upped their price objective on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Bank of America raised their target price on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their price target on Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Thirteen equities 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.com, the stock currently has an average rating of “Buy” and an average target price of $62.75.

Biohaven Price Performance

NYSE BHVN opened at $46.38 on Tuesday. The firm has a market capitalization of $4.69 billion, a price-to-earnings ratio of -4.96 and a beta of 1.31. The company has a 50 day simple moving average of $49.53 and a 200-day simple moving average of $41.25. 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). On average, analysts predict that Biohaven will post -8.85 EPS for the current year.

Insider Activity at Biohaven

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

Institutional Trading of Biohaven

Several institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of Biohaven by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock worth $4,206,000 after acquiring an additional 412 shares during the period. Sanctuary Advisors LLC acquired a new position in Biohaven in the third quarter worth about $246,000. Geode Capital Management LLC lifted its stake in Biohaven by 2.6% during the third quarter. Geode Capital Management LLC now owns 1,714,612 shares of the company’s stock worth $85,696,000 after purchasing an additional 44,174 shares during the period. Barclays PLC boosted its holdings in Biohaven by 87.6% during the third quarter. Barclays PLC now owns 268,077 shares of the company’s stock valued at $13,396,000 after purchasing an additional 125,189 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Biohaven in the 3rd quarter valued at approximately $1,339,000. 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.