Biohaven (NYSE:BHVN) Price Target Raised to $75.00

Biohaven (NYSE:BHVN) had its price target boosted by TD Cowen from $55.00 to $75.00 in a research note released on Wednesday,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other analysts have also recently weighed in on BHVN. Leerink Partners raised their price target on Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Sanford C. Bernstein raised their target price on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Bank of America upped their price target on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Piper Sandler increased their price target on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Biohaven currently has a consensus rating of “Buy” and an average price target of $63.42.

Biohaven Stock Performance

BHVN stock opened at $44.37 on Wednesday. The company’s 50 day moving average price is $48.16 and its 200 day moving average price is $40.91. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -4.75 and a beta of 1.31. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Equities analysts forecast that Biohaven will post -8.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John W. Childs bought 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The shares were bought 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 of the company’s stock, valued at $999,970. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gregory Bailey purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were bought at an average price of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now directly owns 1,620,071 shares of the company’s stock, 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. 16.00% of the stock is currently owned by insiders.

Institutional Trading of Biohaven

Several hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Biohaven in the third quarter valued at about $50,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Biohaven in the 2nd quarter valued at approximately $61,000. Values First Advisors Inc. acquired a new stake in shares of Biohaven in the 3rd quarter valued at approximately $78,000. US Bancorp DE boosted its stake in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares in the last quarter. Finally, KBC Group NV grew its holdings in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares during the period. 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.