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

Biohaven (NYSE:BHVN)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a report issued on Tuesday,Benzinga reports. They presently have a $59.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 27.21% from the stock’s current price.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price objective on Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Royal Bank of Canada dropped their price objective on shares of Biohaven from $66.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday. Leerink Partners upped 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, September 23rd. Bank of America lifted their target price on shares of Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Sanford C. Bernstein boosted their price target on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $62.75.

Biohaven Trading Down 1.9 %

NYSE:BHVN opened at $46.38 on Tuesday. The company has a 50-day moving average price of $49.39 and a 200-day moving average price of $41.21. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -5.06 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 announced its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). Equities analysts forecast that Biohaven will post -8.85 EPS for the current fiscal year.

Insider Activity

In related news, Director John W. Childs bought 21,052 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now owns 21,052 shares in the company, valued at approximately $999,970. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Bailey purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the purchase, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The trade was a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

A number of hedge funds have recently bought and sold shares of BHVN. Franklin Resources Inc. grew its position in Biohaven by 0.5% during the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock valued at $4,206,000 after buying an additional 412 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Biohaven during the 3rd quarter worth $246,000. Geode Capital Management LLC grew its position in shares of Biohaven by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,714,612 shares of the company’s stock valued at $85,696,000 after acquiring an additional 44,174 shares during the period. Barclays PLC grew its position in shares of Biohaven by 87.6% during the 3rd quarter. Barclays PLC now owns 268,077 shares of the company’s stock valued at $13,396,000 after acquiring an additional 125,189 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Biohaven in the 3rd quarter worth $1,339,000. 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.