Biohaven’s (BHVN) Buy Rating Reiterated at HC Wainwright

Biohaven (NYSE:BHVN)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $59.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 63.89% from the company’s current price.

Several other research analysts have also weighed in on BHVN. JPMorgan Chase & Co. increased their price objective on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Bank of America lifted their price target on shares of Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. Robert W. Baird lifted their target price on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Finally, Leerink Partners boosted their price target on Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Thirteen investment 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, the stock has an average rating of “Buy” and a consensus price target of $63.00.

Biohaven Stock Performance

BHVN stock opened at $36.00 on Tuesday. The company has a 50 day moving average price of $48.19 and a two-hundred day moving average price of $41.90. The stock has a market capitalization of $3.64 billion, a P/E ratio of -3.85 and a beta of 1.24. Biohaven has a one year low of $26.80 and a one year high of $62.21.

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

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs purchased 21,052 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the purchase, the director now owns 21,052 shares in the company, valued at $999,970. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now owns 1,620,071 shares in the company, valued at $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. 16.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Biohaven

Institutional investors and hedge funds have recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in shares of Biohaven in the third quarter worth $50,000. Values First Advisors Inc. acquired a new position in Biohaven during the 3rd quarter worth $78,000. Redwood Wealth Management Group LLC bought a new stake in shares of Biohaven in the 2nd quarter worth about $61,000. US Bancorp DE raised its stake in shares of Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after purchasing an additional 790 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after purchasing an additional 443 shares during the last quarter. 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.