Biohaven (NYSE:BHVN) Now Covered by Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Biohaven (NYSE:BHVN) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “buy” rating and a $57.00 price target on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 46.12% from the company’s current price.

Several other equities analysts have also recently commented on BHVN. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 target price on shares of Biohaven in a research note on Wednesday, September 4th. UBS Group lowered their price target on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $59.00 price target on shares of Biohaven in a report on Thursday, May 30th. Finally, Sanford C. Bernstein started coverage on shares of Biohaven in a report on Wednesday, September 4th. They issued an “outperform” rating and a $55.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $54.70.

Biohaven Price Performance

NYSE:BHVN opened at $39.01 on Monday. The stock has a market cap of $3.69 billion, a P/E ratio of -5.71 and a beta of 1.30. Biohaven has a one year low of $16.45 and a one year high of $62.21. The company has a fifty day moving average price of $38.12 and a 200 day moving average price of $41.27.

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

Insider Transactions at Biohaven

In other news, Director John W. Childs bought 28,400 shares of the stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the acquisition, the director now owns 2,339,741 shares in the company, valued at $83,458,561.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 16.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Biohaven

A number of hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC grew its holdings in Biohaven by 5.9% during the 2nd quarter. Algert Global LLC now owns 7,402 shares of the company’s stock worth $257,000 after acquiring an additional 412 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Biohaven by 6.1% during the 2nd quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock worth $286,000 after acquiring an additional 480 shares during the last quarter. Canton Hathaway LLC grew its holdings in Biohaven by 2.3% during the 2nd quarter. Canton Hathaway LLC now owns 21,850 shares of the company’s stock worth $758,000 after acquiring an additional 500 shares during the last quarter. Arizona State Retirement System grew its holdings in Biohaven by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 20,575 shares of the company’s stock worth $714,000 after acquiring an additional 730 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Biohaven by 4.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,431 shares of the company’s stock worth $605,000 after acquiring an additional 778 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.