Biohaven (NYSE:BHVN) Price Target Raised to $75.00

Biohaven (NYSE:BHVN) had its price target boosted by equities research analysts at TD Cowen from $55.00 to $75.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 51.98% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. Piper Sandler increased their price target on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Morgan Stanley assumed coverage on Biohaven in a research report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price for the company. UBS Group reduced their target price on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Leerink Partners increased their target price on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $63.42.

Biohaven Stock Down 2.0 %

Shares of NYSE:BHVN traded down $1.01 during mid-day trading on Wednesday, reaching $49.35. 504,040 shares of the stock were exchanged, compared to its average volume of 1,135,293. The stock’s 50 day simple moving average is $47.55 and its 200-day simple moving average is $40.76. Biohaven has a one year low of $26.80 and a one year high of $62.21. The company has a market cap of $4.67 billion, a P/E ratio of -5.39 and a beta of 1.31.

Insider Transactions at Biohaven

In related news, Director John W. Childs acquired 21,052 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $47.50 per share, with a total value of $999,970.00. Following the transaction, the director now directly owns 21,052 shares of the company’s stock, valued at $999,970. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John W. Childs purchased 21,052 shares of the firm’s stock in a transaction 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 acquisition, the director now owns 21,052 shares in the company, valued at approximately $999,970. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gregory Bailey acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were bought at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now directly owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of institutional investors have recently bought and sold shares of BHVN. SG Americas Securities LLC purchased a new position in shares of Biohaven during the first quarter worth $644,000. Swiss National Bank grew its position in Biohaven by 6.3% during the first quarter. Swiss National Bank now owns 142,500 shares of the company’s stock valued at $7,793,000 after buying an additional 8,400 shares during the period. Sei Investments Co. grew its position in shares of Biohaven by 25.4% during the 1st quarter. Sei Investments Co. now owns 18,440 shares of the company’s stock valued at $1,008,000 after acquiring an additional 3,730 shares during the period. ProShare Advisors LLC increased its stake in shares of Biohaven by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 12,291 shares of the company’s stock valued at $672,000 after purchasing an additional 967 shares in the last quarter. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Biohaven in the first quarter valued at approximately $7,276,000. 88.78% of the stock is 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.