Biohaven Ltd. (NYSE:BHVN) Given Consensus Recommendation of “Buy” by Analysts

Biohaven Ltd. (NYSE:BHVN) has been given an average rating of “Buy” by the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Fourteen investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $62.77.

A number of equities research analysts recently issued reports on BHVN shares. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Morgan Stanley lowered their price target on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. Finally, HC Wainwright reissued a “buy” rating and set a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th.

Insider Activity at Biohaven

In related news, Director John W. Childs bought 32,700 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $30.47 per share, with a total value of $996,369.00. Following the purchase, the director now directly owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 16.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock valued at $314,267,000 after buying an additional 628,211 shares during the last quarter. Janus Henderson Group PLC raised its position in Biohaven by 12.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company’s stock valued at $260,735,000 after acquiring an additional 756,032 shares in the last quarter. Stifel Financial Corp raised its position in Biohaven by 0.8% during the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company’s stock valued at $244,990,000 after acquiring an additional 50,052 shares in the last quarter. Suvretta Capital Management LLC lifted its stake in Biohaven by 8.1% in the fourth quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company’s stock valued at $209,917,000 after acquiring an additional 421,052 shares during the last quarter. Finally, Farallon Capital Management LLC grew its position in Biohaven by 21.6% in the fourth quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company’s stock worth $165,392,000 after acquiring an additional 785,578 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Stock Down 9.8 %

BHVN stock opened at $18.54 on Friday. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -1.98 and a beta of 1.33. The stock’s fifty day simple moving average is $33.40 and its 200-day simple moving average is $40.81. Biohaven has a 52-week low of $17.93 and a 52-week high of $55.70.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.29). As a group, analysts anticipate that Biohaven will post -8.9 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.