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

Biohaven (NYSE:BHVN)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $54.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 74.29% from the stock’s current price.

Other analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Biohaven in a report on Tuesday, February 11th. They set a “buy” rating and a $65.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday. Finally, TD Cowen lifted their price target on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $62.77.

Biohaven Stock Down 1.2 %

BHVN opened at $30.98 on Tuesday. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21. The business has a fifty day simple moving average of $38.07 and a 200-day simple moving average of $42.66. The firm has a market cap of $3.13 billion, a P/E ratio of -3.31 and a beta of 1.27.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). Sell-side analysts expect that Biohaven will post -8.9 earnings per share for the current year.

Insider Activity at Biohaven

In related news, Director John W. Childs purchased 29,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the transaction, the director now directly owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. The trade was a 1.24 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently added to or reduced their stakes in BHVN. US Bancorp DE boosted its holdings in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after purchasing an additional 790 shares in the last quarter. SpiderRock Advisors LLC purchased a new stake in Biohaven in the 3rd quarter valued at approximately $620,000. Venturi Wealth Management LLC boosted its holdings in Biohaven by 19.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock valued at $156,000 after purchasing an additional 500 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Biohaven by 67.1% in the 3rd quarter. Victory Capital Management Inc. now owns 363,615 shares of the company’s stock valued at $18,170,000 after purchasing an additional 145,960 shares in the last quarter. Finally, KBC Group NV boosted its holdings in 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. Institutional investors and hedge funds 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.