Biohaven (NYSE:BHVN) Rating Reiterated by Cantor Fitzgerald

Biohaven (NYSE:BHVN)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports.

Other equities research analysts have also issued research reports about the stock. Jefferies Financial Group started coverage on shares of Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 price objective for the company. Leerink Partners boosted their target price on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday. Morgan Stanley started coverage on shares of Biohaven in a research note on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price target for the company. UBS Group reduced their price target on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Piper Sandler increased their price objective on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday. Twelve analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $59.82.

Biohaven Price Performance

BHVN opened at $45.93 on Tuesday. The firm has a market capitalization of $4.06 billion, a price-to-earnings ratio of -6.72 and a beta of 1.30. The company’s 50 day simple moving average is $38.50 and its two-hundred day simple moving average is $40.74. Biohaven has a 1-year low of $16.48 and a 1-year high of $62.21.

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

Insiders Place Their Bets

In other news, Director John W. Childs purchased 28,400 shares of the stock in a transaction dated Thursday, July 18th. The stock was 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 directly owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 16.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Biohaven

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Biohaven by 280.5% during the 1st 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 in the last quarter. Darwin Global Management Ltd. purchased a new stake in Biohaven during the first quarter worth approximately $80,776,000. Point72 Asset Management L.P. boosted its holdings in 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 in the last quarter. Farallon Capital Management LLC increased its stake in Biohaven by 181.4% in the second 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 last quarter. Finally, Bellevue Group AG acquired a new stake in Biohaven during the fourth quarter worth approximately $46,010,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

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.