Biohaven Ltd. (NYSE:BHVN) Receives Average Recommendation of “Buy” from Brokerages

Biohaven Ltd. (NYSE:BHVN) has been given a consensus rating of “Buy” by the eight research firms that are presently covering the stock, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $54.71.

Several brokerages recently weighed in on BHVN. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research note on Thursday, May 30th. HC Wainwright restated a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research report on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $59.00 target price on shares of Biohaven in a research note on Tuesday, June 18th. Finally, UBS Group lifted their price target on shares of Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd.

Biohaven Trading Down 1.1 %

Shares of NYSE:BHVN opened at $33.79 on Friday. The company has a market capitalization of $2.98 billion, a PE ratio of -4.95 and a beta of 1.32. Biohaven has a 12-month low of $16.45 and a 12-month high of $62.21. The business has a 50 day moving average of $36.16 and a two-hundred day moving average of $43.87.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.70). Equities research analysts predict that Biohaven will post -7.16 earnings per share for the current fiscal year.

Insider Transactions at Biohaven

In other Biohaven news, Director Gregory Bailey bought 48,780 shares of Biohaven stock in a transaction dated Monday, April 22nd. The stock was acquired at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the completion of the transaction, the director now directly owns 1,574,568 shares of the company’s stock, valued at $64,557,288. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Vlad Coric acquired 121,951 shares of the stock in a transaction on Monday, April 22nd. The shares were bought at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the purchase, the chief executive officer now owns 1,788,417 shares of the company’s stock, valued at approximately $73,325,097. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Bailey bought 48,780 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was bought at an average price of $41.00 per share, with a total value of $1,999,980.00. Following the completion of the acquisition, the director now owns 1,574,568 shares in the company, valued at $64,557,288. The disclosure for this purchase can be found here. Insiders have bought 252,734 shares of company stock valued at $9,997,764 over the last ninety days. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew 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 worth $345,031,000 after acquiring an additional 4,650,702 shares during the period. 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 period. Price T Rowe Associates Inc. MD lifted its position in Biohaven by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock valued at $183,050,000 after buying an additional 212,699 shares during the last quarter. Point72 Asset Management L.P. boosted its stake in Biohaven by 142.2% during the fourth 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, Perceptive Advisors LLC increased its position in shares of Biohaven by 129.4% during the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock valued at $73,832,000 after acquiring an additional 973,227 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

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.