Biohaven’s (BHVN) Overweight Rating Reaffirmed at Cantor Fitzgerald

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

Several other brokerages have also recently weighed in on BHVN. Robert W. Baird raised their target price on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Bank of America upped their target price on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price target on shares of Biohaven in a research note on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target (up from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Finally, William Blair raised Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $63.00.

Biohaven Stock Performance

NYSE:BHVN opened at $41.44 on Tuesday. Biohaven has a 1 year low of $26.80 and a 1 year high of $62.21. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of -4.43 and a beta of 1.24. The business has a fifty day moving average of $48.47 and a 200-day moving average of $41.87.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, equities research analysts predict that Biohaven will post -8.85 EPS for the current year.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs purchased 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the acquisition, the director now directly owns 21,052 shares of the company’s stock, valued at $999,970. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Bailey purchased 5,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was acquired at an average price of $44.19 per share, with a total value 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. This represents a 0.31 % 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Biohaven in the third quarter valued at approximately $50,000. Redwood Wealth Management Group LLC bought a new position in shares of Biohaven in the 2nd quarter valued at $61,000. Values First Advisors Inc. acquired a new stake in shares of Biohaven during the 3rd quarter valued at $78,000. US Bancorp DE boosted its holdings 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 acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV boosted its holdings 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 acquiring an additional 443 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

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.