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

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus rating of “Buy” by the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $62.75.

A number of analysts recently commented on the company. Sanford C. Bernstein increased their price objective on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. Piper Sandler upped their price objective on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. TD Cowen lifted 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. Finally, Robert W. Baird increased their price target on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd.

Biohaven Price Performance

Shares of NYSE BHVN opened at $46.01 on Monday. The firm’s 50-day moving average is $49.77 and its two-hundred day moving average is $41.40. The company has a market capitalization of $4.65 billion, a PE ratio of -4.92 and a beta of 1.31. Biohaven has a 12-month low of $26.80 and a 12-month high of $62.21.

Biohaven (NYSE:BHVN) last posted its earnings results 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). On average, analysts forecast that Biohaven will post -8.85 EPS for the current fiscal year.

Insider Transactions at Biohaven

In related news, Director John W. Childs purchased 21,052 shares of Biohaven stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average cost of $47.50 per share, with a total value of $999,970.00. Following the transaction, the director now owns 21,052 shares of the company’s stock, valued at approximately $999,970. The trade was a ? increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now directly 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 disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BHVN. DNB Asset Management AS acquired a new position in Biohaven in the 2nd quarter worth $285,000. CWM LLC lifted its stake in shares of Biohaven by 1,893.4% in the second quarter. CWM LLC now owns 14,552 shares of the company’s stock worth $505,000 after acquiring an additional 13,822 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Biohaven by 114.6% in the second quarter. SG Americas Securities LLC now owns 25,255 shares of the company’s stock valued at $877,000 after purchasing an additional 13,485 shares during the last quarter. Oak Ridge Investments LLC grew its stake in Biohaven by 197.6% during the 2nd 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 in the last quarter. Finally, ARS Investment Partners LLC increased its holdings in Biohaven by 47.8% during the 2nd quarter. ARS Investment Partners LLC now owns 940,512 shares of the company’s stock worth $32,645,000 after purchasing an additional 304,141 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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.