Biohaven (NYSE:BHVN) Price Target Increased to $60.00 by Analysts at Leerink Partners

Biohaven (NYSE:BHVN) had its price objective upped by equities researchers at Leerink Partners from $55.00 to $60.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Leerink Partners’ price target would suggest a potential upside of 30.63% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley assumed coverage on shares of Biohaven in a research note on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price target for the company. Robert W. Baird boosted their target price on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday. HC Wainwright reiterated a “buy” rating and set a $59.00 price target on shares of Biohaven in a research note on Thursday, May 30th. Piper Sandler lifted their price objective on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Jefferies Financial Group started coverage on shares of Biohaven in a report on Monday, September 16th. They set a “buy” rating and a $57.00 price objective on the stock. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $59.00.

Biohaven Stock Up 13.7 %

NYSE BHVN traded up $5.54 on Monday, reaching $45.93. The company had a trading volume of 6,249,282 shares, compared to its average volume of 1,175,811. The stock has a market capitalization of $4.06 billion, a P/E ratio of -6.72 and a beta of 1.30. The company’s fifty day moving average is $38.35 and its 200 day moving average is $40.83. Biohaven has a 52-week low of $16.48 and a 52-week high of $62.21.

Biohaven (NYSE:BHVN) last posted 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). On average, research analysts expect that Biohaven will post -8.92 EPS for the current year.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs acquired 28,400 shares of the stock in a transaction dated Thursday, July 18th. The stock was purchased at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the acquisition, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BHVN. Algert Global LLC raised its position in 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. Hsbc Holdings PLC raised its holdings in shares of 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 in the last quarter. Canton Hathaway LLC lifted its stake in Biohaven by 2.3% in the second 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 period. Arizona State Retirement System boosted its holdings in Biohaven by 3.7% in the second quarter. Arizona State Retirement System now owns 20,575 shares of the company’s stock valued at $714,000 after acquiring an additional 730 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Biohaven by 4.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,431 shares of the company’s stock valued at $605,000 after acquiring an additional 778 shares in 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.