Biohaven (NYSE:BHVN) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Biohaven (NYSE:BHVN) in a research report sent to investors on Tuesday,Benzinga reports.

Several other brokerages have also issued reports on BHVN. Jefferies Financial Group started coverage on shares of Biohaven in a research note on Monday, September 16th. They set a “buy” rating and a $57.00 price target for the company. Leerink Partners raised their target price on Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Robert W. Baird increased their price target on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. HC Wainwright reissued a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective (up from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Biohaven has an average rating of “Buy” and a consensus price target of $63.00.

Biohaven Trading Down 5.6 %

BHVN stock opened at $39.12 on Tuesday. The stock has a market cap of $3.96 billion, a P/E ratio of -4.18 and a beta of 1.24. The stock’s fifty day simple moving average is $48.47 and its two-hundred day simple moving average is $41.87. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). As a group, analysts forecast that Biohaven will post -8.85 earnings per share for the current fiscal year.

Insider Transactions at Biohaven

In related news, Director Gregory Bailey purchased 5,000 shares of the business’s 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 purchase, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This represents a 0.31 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Childs acquired 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the transaction, the director now owns 21,052 shares in the company, valued at approximately $999,970. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

A number of large investors have recently added to or reduced their stakes in BHVN. Algert Global LLC increased its position in shares of Biohaven by 5.9% during the 2nd quarter. Algert Global LLC now owns 7,402 shares of the company’s stock valued at $257,000 after purchasing an additional 412 shares during the last quarter. Franklin Resources Inc. boosted its stake in Biohaven by 0.5% in the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock worth $4,206,000 after buying an additional 412 shares in the last quarter. KBC Group NV grew its position in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares during the last quarter. Hsbc Holdings PLC grew its position in Biohaven by 6.1% during the second quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock valued at $286,000 after acquiring an additional 480 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Biohaven by 19.1% during the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other 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.