Biohaven Ltd. (NYSE:BHVN) Given Average Recommendation of “Buy” by Brokerages

Biohaven Ltd. (NYSE:BHVN) has earned an average recommendation of “Buy” from the fourteen research firms that are presently covering the company, MarketBeat reports. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $63.00.

A number of brokerages have recently issued reports on BHVN. Robert W. Baird boosted their target price on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Leerink Partners upped their price target on Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. HC Wainwright reissued a “buy” rating and set a $59.00 target price on shares of Biohaven in a research report on Tuesday, December 17th. Finally, Bank of America boosted their price objective on shares of Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th.

Insider Activity

In related news, Director John W. Childs acquired 29,000 shares of the business’s stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the acquisition, the director now owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

A number of large investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Biohaven during the 3rd quarter valued at $50,000. Values First Advisors Inc. purchased a new stake in shares of Biohaven in the third quarter worth approximately $78,000. US Bancorp DE boosted its holdings in shares of Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after purchasing an additional 790 shares during the period. KBC Group NV increased its stake in Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after buying an additional 443 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Biohaven by 19.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Stock Up 4.8 %

Shares of NYSE:BHVN opened at $37.57 on Tuesday. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21. The business has a fifty day simple moving average of $41.03 and a 200-day simple moving average of $42.40. The company has a market cap of $3.80 billion, a P/E ratio of -4.02 and a beta of 1.29.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Sell-side analysts expect that Biohaven will post -8.85 earnings per share 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.