Cantor Fitzgerald Reiterates “Overweight” Rating for Biohaven (NYSE:BHVN)

Biohaven (NYSE:BHVN)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday, Benzinga reports.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird boosted their price target on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday. HC Wainwright reiterated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a report on Tuesday. Morgan Stanley began coverage on shares of Biohaven in a research note on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price for the company. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Sanford C. Bernstein assumed coverage on Biohaven in a research report on Wednesday, September 4th. They set an “outperform” rating and a $55.00 price objective for the company. Thirteen investment 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, Biohaven currently has a consensus rating of “Buy” and a consensus price target of $60.92.

Biohaven Price Performance

NYSE BHVN opened at $49.22 on Tuesday. Biohaven has a 12 month low of $17.17 and a 12 month high of $62.21. The firm has a market capitalization of $4.65 billion, a PE ratio of -7.21 and a beta of 1.30. The company’s 50 day simple moving average is $38.90 and its 200 day simple moving average is $40.71.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Sell-side analysts anticipate that Biohaven will post -8.92 earnings per share for the current fiscal year.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs acquired 28,400 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the transaction, the director now owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Childs bought 28,400 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was bought at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the transaction, the director now owns 2,339,741 shares in the company, valued at $83,458,561.47. The disclosure for this purchase can be found here. 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 BHVN. Perceptive Advisors LLC raised its holdings in shares of Biohaven by 129.4% during the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after acquiring an additional 973,227 shares in the last quarter. Vanguard Group Inc. increased its position in Biohaven by 280.5% in the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after purchasing an additional 4,650,702 shares during the last quarter. CWM LLC raised its stake in shares of Biohaven by 1,893.4% during the 2nd quarter. CWM LLC now owns 14,552 shares of the company’s stock worth $505,000 after purchasing an additional 13,822 shares in the last quarter. Oak Ridge Investments LLC lifted its holdings in shares of Biohaven by 197.6% during the 2nd quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock valued at $764,000 after buying an additional 14,607 shares during the last quarter. Finally, Bellevue Group AG lifted its holdings in shares of Biohaven by 7.0% during the 1st quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock valued at $62,894,000 after buying an additional 75,000 shares during the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

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.