Biohaven (NYSE:BHVN) Now Covered by Jefferies Financial Group

Investment analysts at Jefferies Financial Group initiated coverage on shares of Biohaven (NYSE:BHVN) in a research note issued to investors on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $57.00 price target on the stock. Jefferies Financial Group’s price target points to a potential upside of 49.68% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $59.00 price target on shares of Biohaven in a research report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 target price on shares of Biohaven in a report on Wednesday, September 4th. Sanford C. Bernstein began coverage on Biohaven in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $55.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Monday, August 19th. Finally, William Blair upgraded Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $54.70.

Biohaven Stock Up 6.5 %

BHVN opened at $38.08 on Monday. The business’s fifty day simple moving average is $38.03 and its 200 day simple moving average is $41.34. Biohaven has a 52 week low of $16.45 and a 52 week high of $62.21. The stock has a market cap of $3.60 billion, a PE ratio of -5.58 and a beta of 1.30.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). As a group, equities analysts anticipate that Biohaven will post -8.92 earnings per share for the current year.

Insider Activity at Biohaven

In other Biohaven news, Director John W. Childs purchased 28,400 shares of Biohaven stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the transaction, the director now owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Biohaven

A number of large investors have recently made changes to their positions in the company. Algert Global LLC raised its holdings in shares of Biohaven by 5.9% in the second quarter. Algert Global LLC now owns 7,402 shares of the company’s stock worth $257,000 after buying an additional 412 shares during the period. Hsbc Holdings PLC grew its position in Biohaven by 6.1% in the 2nd quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock valued at $286,000 after acquiring an additional 480 shares during the last quarter. Canton Hathaway LLC increased its stake in Biohaven by 2.3% in the second quarter. Canton Hathaway LLC now owns 21,850 shares of the company’s stock worth $758,000 after purchasing an additional 500 shares during the period. Arizona State Retirement System lifted its position in shares of Biohaven by 3.7% during the second quarter. Arizona State Retirement System now owns 20,575 shares of the company’s stock worth $714,000 after purchasing an additional 730 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Biohaven by 4.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,431 shares of the company’s stock valued at $605,000 after purchasing an additional 778 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Company Profile

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.