Biohaven (NYSE:BHVN) PT Raised to $60.00 at Robert W. Baird

Biohaven (NYSE:BHVN) had its price objective lifted by investment analysts at Robert W. Baird from $58.00 to $60.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 28.87% from the stock’s previous close.

BHVN has been the subject of several other research reports. UBS Group lowered their price objective on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Morgan Stanley initiated coverage on Biohaven in a research note on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price target for the company. Sanford C. Bernstein started coverage on Biohaven in a research report on Wednesday, September 4th. They issued an “outperform” rating and a $55.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $59.00 price objective on shares of Biohaven in a research report on Wednesday, September 4th. Finally, Piper Sandler boosted their price objective on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday. Eleven equities research 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, the company currently has a consensus rating of “Buy” and a consensus target price of $58.90.

Biohaven Stock Performance

Shares of BHVN stock traded up $6.17 during trading on Monday, hitting $46.56. 4,766,045 shares of the company were exchanged, compared to its average volume of 1,167,707. Biohaven has a twelve month low of $16.48 and a twelve month high of $62.21. The business’s 50-day simple moving average is $38.35 and its 200 day simple moving average is $40.83. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of -6.64 and a beta of 1.30.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). On average, equities analysts forecast that Biohaven will post -8.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biohaven 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 cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the transaction, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biohaven

A number of hedge funds and other institutional investors have recently made changes to their positions in BHVN. Vanguard Group Inc. boosted its holdings in shares of Biohaven by 280.5% in the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after buying an additional 4,650,702 shares during the period. Stifel Financial Corp boosted its position in Biohaven by 7.9% during the fourth quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock valued at $266,465,000 after purchasing an additional 456,062 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 worth $183,050,000 after purchasing an additional 212,699 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Biohaven by 142.2% in the fourth quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after purchasing an additional 1,458,072 shares during the last quarter. Finally, Farallon Capital Management LLC boosted its holdings in Biohaven by 181.4% in the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after purchasing an additional 1,449,000 shares during the period. Hedge funds and other institutional investors 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.