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

Biohaven Ltd. (NYSE:BHVN) has been assigned a consensus rating of “Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $55.13.

BHVN has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $59.00 price objective on shares of Biohaven in a research report on Tuesday, June 18th. UBS Group upped their price objective on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Morgan Stanley began coverage on Biohaven in a report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 target price for the company. HC Wainwright reissued a “buy” rating and issued a $59.00 target price on shares of Biohaven in a report on Thursday, May 30th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Thursday, May 30th.

Biohaven Stock Performance

NYSE:BHVN opened at $34.23 on Tuesday. The stock has a 50-day simple moving average of $35.57 and a 200-day simple moving average of $43.04. The stock has a market cap of $3.02 billion, a P/E ratio of -5.01 and a beta of 1.32. Biohaven has a 1 year low of $16.45 and a 1 year high of $62.21.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Thursday, May 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.50) by ($0.70). On average, equities research analysts predict that Biohaven will post -7.09 EPS for the current year.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 28,500 shares of Biohaven stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of $35.17 per share, with a total value of $1,002,345.00. Following the purchase, the director now directly owns 2,283,341 shares in the company, valued at $80,305,102.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John W. Childs acquired 28,500 shares of Biohaven stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of $35.17 per share, with a total value of $1,002,345.00. Following the purchase, the director now directly owns 2,283,341 shares in the company, valued at $80,305,102.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Childs acquired 28,000 shares of Biohaven stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $35.58 per share, with a total value of $996,240.00. Following the completion of the purchase, the director now owns 2,311,341 shares in the company, valued at $82,237,512.78. The disclosure for this purchase can be found here. Insiders purchased a total of 84,900 shares of company stock valued at $3,011,613 in the last ninety days. Insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. purchased a new position in shares of Biohaven during the 4th quarter worth approximately $214,000. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Biohaven during the 4th quarter worth approximately $230,000. Private Advisor Group LLC purchased a new position in shares of Biohaven during the 4th quarter worth approximately $231,000. Capstone Investment Advisors LLC purchased a new position in shares of Biohaven during the 4th quarter worth approximately $235,000. Finally, Cypress Wealth Services LLC purchased a new position in shares of Biohaven during the 1st quarter worth approximately $326,000. 88.78% of the stock is owned by hedge funds and other 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.