Biohaven Ltd. (NYSE:BHVN) Receives Consensus Rating of “Buy” from Analysts

Biohaven Ltd. (NYSE:BHVN) has received an average rating of “Buy” from the fifteen brokerages that are covering the firm, Marketbeat reports. Fourteen analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $63.15.

BHVN has been the topic of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Biohaven in a research report on Tuesday. They issued a “buy” rating and a $65.00 target price on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. TD Cowen lifted their price objective on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, HC Wainwright restated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a report on Tuesday, December 17th.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 29,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the purchase, 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 16.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BHVN. Vanguard Group Inc. grew its position 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 valued at $314,267,000 after purchasing an additional 628,211 shares during the last quarter. Stifel Financial Corp boosted its stake in Biohaven by 0.8% during the 4th quarter. Stifel Financial Corp now owns 6,559,313 shares of the company’s stock valued at $244,990,000 after purchasing an additional 50,052 shares during the period. Janus Henderson Group PLC grew its holdings in Biohaven by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock valued at $311,142,000 after buying an additional 328,099 shares during the last quarter. JPMorgan Chase & Co. increased its position in Biohaven by 144.5% in the 4th 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 during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Biohaven by 11.1% during the fourth quarter. Geode Capital Management LLC now owns 1,905,366 shares of the company’s stock worth $71,182,000 after buying an additional 190,754 shares during the last quarter. 88.78% of the stock is owned by institutional investors.

Biohaven Price Performance

BHVN stock opened at $41.45 on Friday. The firm has a market cap of $4.19 billion, a PE ratio of -4.43 and a beta of 1.28. Biohaven has a 12 month low of $26.80 and a 12 month high of $62.21. The firm has a 50 day simple moving average of $38.56 and a 200 day simple moving average of $42.64.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03). As a group, sell-side analysts expect that Biohaven will post -8.9 earnings per share for the current 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.