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

Shares of Biohaven Ltd. (NYSE:BHVN) have received a consensus recommendation of “Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $63.00.

Several analysts have commented on BHVN shares. TD Cowen raised their price objective on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target (up from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. JPMorgan Chase & Co. upped their target price on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, HC Wainwright reissued a “buy” rating and set a $59.00 price target on shares of Biohaven in a research report on Tuesday, December 17th.

Biohaven Stock Performance

Shares of BHVN stock opened at $39.89 on Tuesday. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The firm has a market cap of $4.03 billion, a P/E ratio of -4.27 and a beta of 1.29. The business’s 50 day moving average price is $40.26 and its 200-day moving average price is $42.55.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). As a group, equities analysts predict that Biohaven will post -8.85 EPS for the current year.

Insider Activity

In related news, Director John W. Childs bought 29,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the transaction, the director now owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of institutional investors and hedge funds have recently modified their holdings of the company. Algert Global LLC lifted its holdings in Biohaven by 5.9% in the second quarter. Algert Global LLC now owns 7,402 shares of the company’s stock valued at $257,000 after acquiring an additional 412 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Biohaven by 0.5% in the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock worth $4,206,000 after buying an additional 412 shares during the last quarter. KBC Group NV grew its position in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after buying an additional 443 shares during the period. Hsbc Holdings PLC increased its holdings in Biohaven by 6.1% during the second quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock valued at $286,000 after buying an additional 480 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares during the period. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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.