HC Wainwright Reaffirms Buy Rating for Biohaven (NYSE:BHVN)

HC Wainwright reiterated their buy rating on shares of Biohaven (NYSE:BHVN) in a report published on Thursday,Benzinga reports. They currently have a $59.00 price objective on the stock.

Several other equities analysts also recently issued reports on the company. Jefferies Financial Group assumed coverage on Biohaven in a research note on Monday, September 16th. They issued a “buy” rating and a $57.00 price objective on the stock. Bank of America upped their price target on shares of Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. William Blair raised shares of Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. Robert W. Baird increased their price target on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Finally, Piper Sandler boosted their price objective on shares of Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $63.42.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $44.39 on Thursday. The business has a fifty day moving average of $48.16 and a two-hundred day moving average of $40.93. Biohaven has a 52-week low of $26.80 and a 52-week high of $62.21. The stock has a market cap of $4.49 billion, a PE ratio of -4.75 and a beta of 1.31.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Analysts predict that Biohaven will post -8.87 earnings per share for the current year.

Insider Activity at Biohaven

In other Biohaven news, Director Gregory Bailey acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This represents a 0.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Childs bought 21,052 shares of Biohaven stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the acquisition, the director now owns 21,052 shares of the company’s stock, valued at approximately $999,970. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Biohaven

A number of large investors have recently bought and sold shares of BHVN. Stifel Financial Corp increased its holdings in Biohaven by 0.4% during the 3rd quarter. Stifel Financial Corp now owns 6,509,261 shares of the company’s stock worth $325,268,000 after purchasing an additional 28,684 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Biohaven by 280.5% during the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after buying an additional 4,650,702 shares in the last quarter. Janus Henderson Group PLC raised its position in Biohaven by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock valued at $311,142,000 after buying an additional 328,099 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Biohaven by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock valued at $183,050,000 after acquiring an additional 212,699 shares in the last quarter. Finally, Farallon Capital Management LLC boosted its position in Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock worth $78,028,000 after acquiring an additional 1,449,000 shares during the last quarter. 88.78% of the stock is owned by institutional investors.

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.