Biohaven (NYSE:BHVN) Given New $63.00 Price Target at Morgan Stanley

Biohaven (NYSE:BHVN) had its target price cut by Morgan Stanley from $69.00 to $63.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft initiated coverage on Biohaven in a report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday. TD Cowen upped their price objective on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a research note on Tuesday. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $63.15.

Biohaven Stock Performance

Shares of BHVN opened at $29.87 on Friday. The stock has a 50 day moving average price of $37.86 and a two-hundred day moving average price of $42.50. The firm has a market capitalization of $3.02 billion, a P/E ratio of -3.19 and a beta of 1.27. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). On average, equities analysts forecast that Biohaven will post -8.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John W. Childs bought 32,700 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. The trade was a 1.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BHVN. US Bancorp DE increased its holdings in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after purchasing an additional 790 shares during the period. SpiderRock Advisors LLC bought a new position in shares of Biohaven in the third quarter worth $620,000. Venturi Wealth Management LLC increased its holdings in shares of Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after purchasing an additional 500 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Biohaven by 67.1% in the third quarter. Victory Capital Management Inc. now owns 363,615 shares of the company’s stock worth $18,170,000 after purchasing an additional 145,960 shares during the period. Finally, KBC Group NV increased its holdings in shares of Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after purchasing an additional 443 shares during the period. Institutional investors own 88.78% of the company’s stock.

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.