Biohaven Ltd. (NYSE:BHVN) Given Average Recommendation of “Buy” by Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been assigned an average recommendation of “Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat reports. Thirteen equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $61.92.

BHVN has been the topic of a number of recent analyst reports. Bank of America raised 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. Royal Bank of Canada raised their price target on shares of Biohaven from $59.00 to $68.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. William Blair raised shares of Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Sanford C. Bernstein lifted their price objective on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Finally, Morgan Stanley assumed coverage on shares of Biohaven in a research report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price objective on the stock.

Biohaven Trading Up 4.4 %

NYSE:BHVN opened at $53.69 on Thursday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -5.87 and a beta of 1.31. The firm has a fifty day simple moving average of $46.50 and a two-hundred day simple moving average of $40.37. Biohaven has a 12 month low of $26.80 and a 12 month high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). Equities analysts predict that Biohaven will post -8.81 earnings per share for the current fiscal year.

Insider Transactions at Biohaven

In other news, Director John W. Childs acquired 21,052 shares of Biohaven stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now owns 21,052 shares in the company, valued at $999,970. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 bought at an average price of $44.19 per share, with a total value of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Childs purchased 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares of the company’s stock, valued at approximately $999,970. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Biohaven by 280.5% during the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after acquiring an additional 4,650,702 shares during the last quarter. Oak Ridge Investments LLC boosted its stake in shares of Biohaven by 197.6% during the second 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 during the period. CWM LLC boosted its stake in shares of Biohaven by 1,893.4% during the second quarter. CWM LLC now owns 14,552 shares of the company’s stock valued at $505,000 after purchasing an additional 13,822 shares during the period. Bellevue Group AG boosted its stake in shares of Biohaven by 7.0% during the first quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock valued at $62,894,000 after purchasing an additional 75,000 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Biohaven during the first quarter valued at $7,276,000. Institutional investors own 88.78% of the company’s stock.

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.