Biohaven (NYSE:BHVN) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Biohaven (NYSE:BHVN) in a research report report published on Friday, Benzinga reports.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Biohaven from $55.00 to $68.00 and gave the stock an overweight rating in a report on Thursday, October 3rd. William Blair raised shares of Biohaven to a strong-buy rating in a research report on Friday, August 30th. Royal Bank of Canada boosted their price target on Biohaven from $59.00 to $68.00 and gave the company an outperform rating in a report on Tuesday, September 24th. Piper Sandler boosted their price objective on shares of Biohaven from $66.00 to $76.00 and gave the company an overweight rating in a research report on Monday, September 23rd. Finally, Sanford C. Bernstein raised their price target on Biohaven from $55.00 to $66.00 and gave the stock an outperform rating in a report on Tuesday, September 24th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Biohaven currently has an average rating of Buy and a consensus price target of $61.92.

Biohaven Price Performance

BHVN opened at $52.78 on Friday. The stock has a market capitalization of $4.66 billion, a P/E ratio of -7.73 and a beta of 1.31. Biohaven has a 12 month low of $23.73 and a 12 month high of $62.21. The business has a 50 day simple moving average of $40.73 and a 200-day simple moving average of $40.15.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data 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). Research analysts anticipate that Biohaven will post -8.92 EPS for the current year.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs bought 28,400 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the transaction, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John W. Childs purchased 21,052 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average price of $47.50 per share, with a total value of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares in the company, valued at $999,970. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Childs bought 28,400 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the acquisition, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 54,452 shares of company stock valued at $2,233,948. Company insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Several institutional investors have recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC purchased a new stake in shares of Biohaven in the second quarter valued at about $61,000. Elkhorn Partners Limited Partnership bought a new position in shares of Biohaven in the second quarter worth $125,000. Diversified Trust Co bought a new position in shares of Biohaven in the 3rd quarter worth $239,000. Quarry LP increased its stake in Biohaven by 614.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after acquiring an additional 4,300 shares during the last quarter. Finally, Cypress Wealth Services LLC bought a new stake in shares of Biohaven in the 1st quarter worth approximately $326,000. 88.78% of the stock is currently owned by 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.