Robert W. Baird Boosts Biohaven (NYSE:BHVN) Price Target to $60.00

Biohaven (NYSE:BHVN) had its target price increased by Robert W. Baird from $58.00 to $60.00 in a report published on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

Several other research analysts have also recently weighed in on the company. HC Wainwright restated a buy rating and set a $59.00 target price on shares of Biohaven in a report on Thursday, May 30th. Morgan Stanley started coverage on Biohaven in a report on Wednesday, July 24th. They issued an overweight rating and a $58.00 target price for the company. UBS Group reduced their price target on Biohaven from $55.00 to $54.00 and set a buy rating on the stock in a report on Tuesday, August 13th. Jefferies Financial Group began coverage on shares of Biohaven in a research report on Monday, September 16th. They set a buy rating and a $57.00 price target on the stock. Finally, Piper Sandler raised their price objective on shares of Biohaven from $66.00 to $76.00 and gave the stock an overweight rating in a research report on Monday. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $60.92.

Biohaven Stock Performance

NYSE BHVN opened at $51.18 on Monday. Biohaven has a one year low of $20.80 and a one year high of $62.21. The business has a fifty day moving average price of $39.23 and a 200 day moving average price of $40.78. The company has a market cap of $4.84 billion, a P/E ratio of -7.49 and a beta of 1.30.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($1.92). As a group, sell-side analysts predict that Biohaven will post -8.92 EPS for the current fiscal year.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs bought 28,400 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the transaction, the director now owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Gregory Bailey acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was bought 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 directly owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Childs bought 28,400 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were purchased at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the transaction, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The disclosure for this purchase can be found here. 16.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BHVN. Vanguard Group Inc. boosted its holdings in shares of Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after acquiring an additional 4,650,702 shares during the period. Stifel Financial Corp raised its position in Biohaven by 7.9% in the 4th quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock valued at $266,465,000 after purchasing an additional 456,062 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Biohaven by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock worth $183,050,000 after purchasing an additional 212,699 shares during the period. Point72 Asset Management L.P. grew its position in Biohaven by 142.2% during the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock worth $106,297,000 after purchasing an additional 1,458,072 shares during the last quarter. Finally, Farallon Capital Management LLC increased its stake in Biohaven by 181.4% in the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after purchasing an additional 1,449,000 shares during the period. Hedge funds and other 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.