Biohaven (NYSE:BHVN) Receives Buy Rating from HC Wainwright

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

Other research analysts also recently issued reports about the company. Jefferies Financial Group initiated coverage on Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price (up from $58.00) on shares of Biohaven in a research report on Wednesday, December 4th. Sanford C. Bernstein raised their price target on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. TD Cowen upped their price objective on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, William Blair raised shares of Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Thirteen 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 stock currently has an average rating of “Buy” and a consensus target price of $63.00.

Biohaven Stock Down 5.6 %

BHVN opened at $39.12 on Tuesday. The firm has a market cap of $3.96 billion, a P/E ratio of -4.18 and a beta of 1.24. The business’s fifty day simple moving average is $48.47 and its 200 day simple moving average is $41.87. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21.

Biohaven (NYSE:BHVN) last released its quarterly 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). As a group, equities analysts expect that Biohaven will post -8.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs bought 21,052 shares of Biohaven stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the acquisition, the director now owns 21,052 shares of the company’s stock, valued at $999,970. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory Bailey purchased 5,000 shares of the 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 completion of the acquisition, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.31 % increase in their position. 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 and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in shares of Biohaven by 0.5% during the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock worth $4,206,000 after purchasing an additional 412 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Biohaven in the 3rd quarter worth $246,000. Geode Capital Management LLC lifted its holdings in Biohaven by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,714,612 shares of the company’s stock worth $85,696,000 after buying an additional 44,174 shares in the last quarter. Barclays PLC boosted its position in Biohaven by 87.6% in the 3rd quarter. Barclays PLC now owns 268,077 shares of the company’s stock valued at $13,396,000 after buying an additional 125,189 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Biohaven during the third quarter valued at about $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.