Biohaven (NYSE:BHVN) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Biohaven (NYSE:BHVN) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $57.00 target price on the stock.

A number of other brokerages also recently issued reports on BHVN. UBS Group reduced their price objective on shares of Biohaven from $55.00 to $54.00 and set a buy rating for the company in a research report on Tuesday, August 13th. Royal Bank of Canada reaffirmed an outperform rating and set a $59.00 price target on shares of Biohaven in a research report on Wednesday, September 4th. Sanford C. Bernstein began coverage on Biohaven in a research report on Wednesday, September 4th. They issued an outperform rating and a $55.00 price objective on the stock. Cantor Fitzgerald reaffirmed an overweight rating on shares of Biohaven in a research report on Monday, August 19th. Finally, Morgan Stanley started coverage on shares of Biohaven in a report on Wednesday, July 24th. They issued an overweight rating and a $58.00 price target on the stock. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Biohaven has an average rating of Buy and an average price target of $54.70.

Biohaven Stock Up 2.5 %

Shares of NYSE:BHVN opened at $39.02 on Monday. The business’s 50 day moving average is $38.03 and its 200 day moving average is $41.34. Biohaven has a 12-month low of $16.45 and a 12-month high of $62.21. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -5.71 and a beta of 1.30.

Biohaven (NYSE:BHVN) last posted 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). As a group, equities research analysts expect that Biohaven will post -8.92 earnings per share for the current year.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs bought 28,400 shares of Biohaven stock in a transaction dated Thursday, July 18th. The stock was purchased at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the purchase, the director now directly owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of large investors have recently made changes to their positions in the stock. Redwood Wealth Management Group LLC bought a new position in shares of Biohaven in the second quarter valued at approximately $61,000. Elkhorn Partners Limited Partnership purchased a new position in shares of Biohaven during the 2nd quarter valued at $125,000. Quarry LP grew its position in shares of Biohaven by 614.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after purchasing an additional 4,300 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Biohaven in the fourth quarter worth $230,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Biohaven in the fourth quarter worth $231,000. 88.78% of the stock is 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.