Royal Bank of Canada Lowers Biohaven (NYSE:BHVN) Price Target to $66.00

Biohaven (NYSE:BHVN) had its price target reduced by research analysts at Royal Bank of Canada from $68.00 to $66.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 31.84% from the stock’s current price.

A number of other equities research analysts also recently weighed in on BHVN. Sanford C. Bernstein lifted their price target on shares of Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. William Blair raised shares of Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. lifted their price objective on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Bank of America lifted their price objective on shares of Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, HC Wainwright reissued a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research note on Tuesday, September 24th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $61.75.

Biohaven Trading Down 0.6 %

BHVN stock traded down $0.30 during mid-day trading on Wednesday, hitting $50.06. 48,085 shares of the company were exchanged, compared to its average volume of 1,133,220. The business has a 50 day simple moving average of $47.55 and a 200-day simple moving average of $40.76. The stock has a market capitalization of $4.73 billion, a PE ratio of -5.47 and a beta of 1.31. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs bought 21,052 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the transaction, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director John W. Childs acquired 21,052 shares of Biohaven stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $47.50 per share, with a total value of $999,970.00. Following the transaction, the director now owns 21,052 shares of the company’s stock, valued at approximately $999,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Bailey acquired 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The stock was 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 directly owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BHVN. nVerses Capital LLC purchased a new stake in shares of Biohaven during the 3rd quarter valued at approximately $50,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Biohaven during the 2nd quarter valued at approximately $61,000. Values First Advisors Inc. purchased a new stake in shares of Biohaven during the 3rd quarter valued at approximately $78,000. US Bancorp DE lifted its stake in shares of Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of Biohaven by 24.5% during 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 in the last quarter. 88.78% of the stock is 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.