Biohaven’s (BHVN) “Buy” Rating Reaffirmed at HC Wainwright

Biohaven (NYSE:BHVN)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $59.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 28.46% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Leerink Partners raised their price objective on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Monday, August 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 price objective on shares of Biohaven in a research note on Wednesday, September 4th. Morgan Stanley began coverage on Biohaven in a report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price objective for the company. Finally, Jefferies Financial Group initiated coverage on shares of Biohaven in a research note on Monday, September 16th. They issued a “buy” rating and a $57.00 target price on the stock. Twelve equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $59.00.

Biohaven Price Performance

Shares of BHVN opened at $45.93 on Tuesday. Biohaven has a 1 year low of $16.48 and a 1 year high of $62.21. The stock’s fifty day moving average price is $38.50 and its two-hundred day moving average price is $40.74. The firm has a market cap of $4.06 billion, a PE ratio of -6.72 and a beta of 1.30.

Biohaven (NYSE:BHVN) last announced 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). Sell-side analysts anticipate that Biohaven will post -8.92 earnings per share for the current fiscal year.

Insider Transactions at Biohaven

In related news, Director John W. Childs bought 28,400 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the acquisition, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC increased its holdings in Biohaven by 5.9% during the 2nd quarter. Algert Global LLC now owns 7,402 shares of the company’s stock valued at $257,000 after purchasing an additional 412 shares during the period. Hsbc Holdings PLC increased its stake in shares of Biohaven by 6.1% during the second quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock valued at $286,000 after buying an additional 480 shares during the period. Canton Hathaway LLC raised its holdings in shares of Biohaven by 2.3% during the second quarter. Canton Hathaway LLC now owns 21,850 shares of the company’s stock valued at $758,000 after acquiring an additional 500 shares in the last quarter. Arizona State Retirement System lifted its stake in Biohaven by 3.7% in the second quarter. Arizona State Retirement System now owns 20,575 shares of the company’s stock worth $714,000 after acquiring an additional 730 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

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.