Biohaven (NYSE:BHVN) PT Raised to $60.00

Biohaven (NYSE:BHVN) had its price objective increased by Leerink Partners from $55.00 to $60.00 in a research report sent to investors on Monday, Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

Other analysts have also recently issued reports about the company. HC Wainwright reissued a buy rating and set a $59.00 price target on shares of Biohaven in a report on Thursday, May 30th. Robert W. Baird lifted their target price on Biohaven from $58.00 to $60.00 and gave the stock an outperform rating in a report on Monday. Cantor Fitzgerald restated an overweight rating on shares of Biohaven in a research note on Monday, August 19th. UBS Group dropped their price objective on shares of Biohaven from $55.00 to $54.00 and set a buy rating for the company in a research note on Tuesday, August 13th. Finally, Piper Sandler increased their target price on shares of Biohaven from $66.00 to $76.00 and gave the stock an overweight rating in a research report on Monday. Thirteen research 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, the stock currently has a consensus rating of Buy and a consensus target price of $60.92.

Biohaven Stock Up 4.0 %

NYSE:BHVN opened at $51.18 on Monday. Biohaven has a 12-month low of $20.80 and a 12-month high of $62.21. The firm has a market capitalization of $4.84 billion, a price-to-earnings ratio of -7.49 and a beta of 1.30. The stock’s 50 day moving average price is $39.23 and its two-hundred day moving average price is $40.78.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Equities research analysts expect that Biohaven will post -8.92 EPS for the current year.

Insider Buying and Selling

In other news, Director John W. Childs acquired 28,400 shares of the stock in a transaction on Thursday, July 18th. The stock was acquired at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the transaction, the director now directly owns 2,339,741 shares in the company, valued at $83,458,561.47. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John W. Childs bought 28,400 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the acquisition, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after purchasing an additional 4,650,702 shares during the last quarter. Stifel Financial Corp raised its holdings in Biohaven by 7.9% in the 4th quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock valued at $266,465,000 after buying an additional 456,062 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Biohaven by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock worth $183,050,000 after buying an additional 212,699 shares during the period. Point72 Asset Management L.P. boosted its position in Biohaven by 142.2% during the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock worth $106,297,000 after buying an additional 1,458,072 shares during the period. Finally, Farallon Capital Management LLC grew its holdings in Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock worth $78,028,000 after acquiring an additional 1,449,000 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

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.