Biohaven (NYSE:BHVN) Research Coverage Started at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Biohaven (NYSE:BHVN) in a report issued on Tuesday morning, Marketbeat reports. The firm issued a buy rating and a $65.00 price objective on the stock.

Several other analysts have also issued reports on the stock. TD Cowen upped their target price on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright reiterated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $63.15.

Biohaven Stock Down 1.0 %

BHVN stock opened at $41.68 on Tuesday. The firm has a market capitalization of $4.21 billion, a PE ratio of -4.46 and a beta of 1.28. Biohaven has a twelve month low of $26.80 and a twelve month high of $62.21. The stock’s 50 day moving average is $38.63 and its 200-day moving average is $42.62.

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). On average, equities research analysts anticipate that Biohaven will post -8.9 earnings per share for the current fiscal year.

Insider Activity at Biohaven

In other Biohaven news, Director John W. Childs acquired 29,000 shares of the company’s stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the acquisition, the director now directly owns 2,368,741 shares in the company, valued at $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biohaven

Several institutional investors have recently added to or reduced their stakes in BHVN. Point72 Asset Management L.P. lifted its holdings in Biohaven by 745.9% during the third quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock valued at $74,969,000 after purchasing an additional 1,322,922 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Biohaven by 144.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company’s stock worth $73,922,000 after buying an additional 1,169,721 shares in the last quarter. Norges Bank purchased a new stake in shares of Biohaven in the fourth quarter worth about $33,711,000. Vanguard Group Inc. lifted its holdings in shares of Biohaven by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after buying an additional 628,211 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Biohaven by 563.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company’s stock worth $25,416,000 after buying an additional 431,954 shares in the last quarter. 88.78% of the stock is owned by hedge funds and other 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.