HC Wainwright Reiterates “Buy” Rating for Biohaven (NYSE:BHVN)

HC Wainwright reiterated their buy rating on shares of Biohaven (NYSE:BHVN) in a report published on Tuesday, Benzinga reports. HC Wainwright currently has a $59.00 target price on the stock.

A number of other research analysts have also weighed in on BHVN. 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. Royal Bank of Canada reissued an outperform rating and issued a $59.00 target price on shares of Biohaven in a research note on Wednesday, September 4th. Robert W. Baird raised their target price on shares of Biohaven from $58.00 to $60.00 and gave the stock an outperform rating in a research note on Monday, September 23rd. Piper Sandler raised their target price on shares of Biohaven from $66.00 to $76.00 and gave the stock an overweight rating in a research note on Monday, September 23rd. Finally, Cantor Fitzgerald reissued an overweight rating on shares of Biohaven in a research note on Monday, August 19th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Buy and an average price target of $60.92.

Biohaven Trading Down 0.4 %

Shares of Biohaven stock opened at $51.00 on Tuesday. The firm has a market capitalization of $4.50 billion, a PE ratio of -7.47 and a beta of 1.30. Biohaven has a twelve month low of $22.12 and a twelve month high of $62.21. The firm’s 50-day moving average price is $39.53 and its 200 day moving average price is $40.75.

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

Insider Activity at Biohaven

In related news, Director Gregory Bailey bought 5,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 purchased at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Bailey bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average price of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The disclosure for this purchase can be found here. 16.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Biohaven

Institutional investors have recently modified their holdings of the business. Redwood Wealth Management Group LLC acquired a new position in shares of Biohaven in the second quarter worth $61,000. Elkhorn Partners Limited Partnership acquired a new position in shares of Biohaven in the second quarter worth $125,000. Quarry LP grew its stake in shares of Biohaven by 614.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $174,000 after acquiring an additional 4,300 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Biohaven in the fourth quarter worth $230,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Biohaven in the fourth quarter worth $235,000. Institutional investors and hedge funds 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.