Biohaven (NYSE:BHVN) Earns Buy Rating from HC Wainwright

Biohaven (NYSE:BHVN)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $59.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 27.21% from the company’s previous close.

A number of other equities research analysts also recently issued reports on BHVN. Jefferies Financial Group initiated coverage on shares of Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 price target on the stock. TD Cowen increased 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. Piper Sandler boosted their price target on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Bank of America upped their price target on shares of Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research note on Wednesday, October 23rd. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $62.75.

Biohaven Stock Down 1.9 %

NYSE BHVN opened at $46.38 on Tuesday. The firm has a market cap of $4.69 billion, a P/E ratio of -5.06 and a beta of 1.31. The company’s 50 day moving average is $49.39 and its 200-day moving average is $41.21. Biohaven has a 12-month low of $26.80 and a 12-month high of $62.21.

Biohaven (NYSE:BHVN) last released its quarterly earnings data 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). Equities analysts expect that Biohaven will post -8.85 EPS for the current year.

Insider Activity at Biohaven

In related news, Director Gregory Bailey acquired 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the purchase, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This represents a 0.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Childs bought 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the purchase, the director now owns 21,052 shares in the company, valued at $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 insiders.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of Biohaven during the third quarter valued at approximately $50,000. Values First Advisors Inc. bought a new stake in Biohaven during the 3rd quarter valued at $78,000. Redwood Wealth Management Group LLC purchased a new stake in Biohaven during the 2nd quarter valued at $61,000. US Bancorp DE grew its holdings in Biohaven by 57.1% in the 3rd 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 last quarter. Finally, KBC Group NV increased its position in shares of Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares during the period. 88.78% of the stock is currently owned by institutional investors.

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.