Biohaven Ltd. (NYSE:BHVN) Receives Consensus Rating of “Buy” from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been assigned a consensus recommendation of “Buy” from the fourteen brokerages that are covering the firm, Marketbeat reports. Thirteen investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $62.75.

Several research analysts have recently commented on the company. William Blair upgraded Biohaven to a “strong-buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. increased their price objective on Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Bank of America lifted their target price on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. TD Cowen lifted their target price on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Jefferies Financial Group began coverage on shares of Biohaven in a research report on Monday, September 16th. They issued a “buy” rating and a $57.00 price target for the company.

Insiders Place Their Bets

In related news, Director Gregory Bailey acquired 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The stock was purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The trade was a 0.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Childs bought 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The stock was bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The trade was 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 Investors Weigh In On Biohaven

A number of institutional investors have recently added to or reduced their stakes in BHVN. Oak Ridge Investments LLC increased its holdings in shares of Biohaven by 197.6% in the 2nd quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock valued at $764,000 after purchasing an additional 14,607 shares in the last quarter. CWM LLC lifted its position in shares of Biohaven by 1,893.4% during the 2nd quarter. CWM LLC now owns 14,552 shares of the company’s stock valued at $505,000 after acquiring an additional 13,822 shares during the period. SpiderRock Advisors LLC purchased a new stake in shares of Biohaven during the 3rd quarter worth approximately $620,000. Principal Financial Group Inc. boosted its stake in shares of Biohaven by 234.5% during the 2nd quarter. Principal Financial Group Inc. now owns 79,048 shares of the company’s stock worth $2,744,000 after acquiring an additional 55,415 shares in the last quarter. Finally, Cadent Capital Advisors LLC purchased a new position in Biohaven in the 3rd quarter valued at approximately $1,771,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Trading Down 0.8 %

Shares of Biohaven stock opened at $46.01 on Monday. Biohaven has a twelve month low of $26.80 and a twelve month high of $62.21. The firm has a market capitalization of $4.65 billion, a PE ratio of -4.92 and a beta of 1.31. The firm’s 50-day moving average price is $49.77 and its 200 day moving average price is $41.40.

Biohaven (NYSE:BHVN) last released its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). On average, sell-side analysts predict that Biohaven will post -8.85 EPS for the current fiscal year.

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.