Deutsche Bank Aktiengesellschaft Begins Coverage on Biohaven (NYSE:BHVN)

Research analysts at Deutsche Bank Aktiengesellschaft assumed coverage on shares of Biohaven (NYSE:BHVN) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $65.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 69.95% from the stock’s current price.

BHVN has been the topic of a number of other reports. HC Wainwright reaffirmed a “buy” rating and issued a $59.00 price target on shares of Biohaven in a research note on Tuesday, December 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. TD Cowen lifted their price objective on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective (up previously from $58.00) on shares of Biohaven in a research report on Wednesday, December 4th. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $63.15.

Biohaven Trading Down 0.5 %

Shares of BHVN opened at $38.25 on Tuesday. Biohaven has a 12 month low of $26.80 and a 12 month high of $62.21. The stock’s 50 day moving average is $38.77 and its two-hundred day moving average is $42.62. The firm has a market cap of $3.87 billion, a P/E ratio of -4.09 and a beta of 1.28.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Equities research analysts forecast that Biohaven will post -8.9 EPS for the current year.

Insider Buying and Selling

In related news, Director John W. Childs bought 29,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the purchase, the director now directly owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This trade represents a 1.24 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 16.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BHVN. nVerses Capital LLC acquired a new position in shares of Biohaven during the 3rd quarter worth about $50,000. Spire Wealth Management acquired a new position in shares of Biohaven during the 4th quarter worth about $56,000. Values First Advisors Inc. acquired a new position in shares of Biohaven during the 3rd quarter worth about $78,000. US Bancorp DE boosted its position in shares of Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

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.