Biohaven Ltd. (NYSE:BHVN) Given Average Rating of “Buy” by Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have been given an average rating of “Buy” by the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Thirteen research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $63.00.

A number of research firms have recently issued reports on BHVN. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price (up previously from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein lifted their price objective on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Piper Sandler upped their target price on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Finally, Bank of America boosted their price target on shares of Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $37.57 on Tuesday. The firm has a fifty day moving average of $41.03 and a 200 day moving average of $42.40. Biohaven has a one year low of $26.80 and a one year high of $62.21. The firm has a market cap of $3.80 billion, a PE ratio of -4.02 and a beta of 1.29.

Biohaven (NYSE:BHVN) last announced its 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). On average, equities analysts predict that Biohaven will post -8.85 EPS for the current fiscal year.

Insider Buying and Selling at Biohaven

In other news, Director John W. Childs acquired 29,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the transaction, the director now owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biohaven

Hedge funds have recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of Biohaven in the third quarter valued at approximately $50,000. Values First Advisors Inc. purchased a new stake in Biohaven in the 3rd quarter valued at approximately $78,000. US Bancorp DE grew its holdings in Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after acquiring an additional 790 shares during the period. KBC Group NV increased its holdings in shares of Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after purchasing an additional 443 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in shares of Biohaven by 19.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock valued at $156,000 after acquiring an additional 500 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.