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

Shares of Biohaven Ltd. (NYSE:BHVN) have received a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the firm, Marketbeat reports. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $63.00.

Several research firms have recently weighed in on BHVN. Jefferies Financial Group began coverage on shares of Biohaven in a research report on Monday, September 16th. They issued a “buy” rating and a $57.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Tuesday, December 17th. JPMorgan Chase & Co. lifted their target price on Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, Robert W. Baird upped their price target on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd.

Insider Activity

In related news, Director John W. Childs bought 21,052 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired 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 $999,970. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHVN. Bank of New York Mellon Corp increased its position in Biohaven by 30.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 321,127 shares of the company’s stock worth $11,146,000 after purchasing an additional 74,490 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Biohaven by 4.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,431 shares of the company’s stock valued at $605,000 after acquiring an additional 778 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in Biohaven in the second quarter worth approximately $6,945,000. Principal Financial Group Inc. increased its stake in shares of Biohaven by 234.5% during the 2nd quarter. Principal Financial Group Inc. now owns 79,048 shares of the company’s stock worth $2,744,000 after purchasing an additional 55,415 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Biohaven by 9.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 13,338 shares of the company’s stock valued at $463,000 after purchasing an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Trading Up 1.9 %

Shares of NYSE BHVN opened at $36.42 on Friday. Biohaven has a 12-month low of $26.80 and a 12-month high of $62.21. The company has a market cap of $3.68 billion, a P/E ratio of -3.90 and a beta of 1.24. The stock has a fifty day moving average price of $45.96 and a 200 day moving average price of $41.89.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, sell-side analysts forecast that Biohaven will post -8.85 EPS for the current fiscal year.

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.