Biohaven Ltd. (NYSE:BHVN) Receives $63.15 Average PT from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been given an average rating of “Buy” by the fifteen ratings firms that are covering the firm, MarketBeat reports. Fourteen equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $63.15.

Several research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $54.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. Morgan Stanley reduced their price target on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Biohaven in a research report on Tuesday, February 11th. They set a “buy” rating and a $65.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th.

Biohaven Stock Performance

Shares of BHVN stock opened at $28.86 on Wednesday. Biohaven has a 52-week low of $26.80 and a 52-week high of $60.46. The stock has a market cap of $2.95 billion, a PE ratio of -3.09 and a beta of 1.27. The firm’s 50 day moving average price is $36.48 and its two-hundred day moving average price is $41.87.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.29). As a group, sell-side analysts predict that Biohaven will post -8.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs acquired 32,700 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, with a total value of $996,369.00. Following the completion of the transaction, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This trade represents a 1.43 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. raised its stake in shares of Biohaven by 125.8% during the 3rd quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock worth $5,992,000 after purchasing an additional 66,801 shares in the last quarter. Bank of New York Mellon Corp raised its position in Biohaven by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company’s stock worth $11,021,000 after acquiring an additional 24,703 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Biohaven during the third quarter worth $1,339,000. JPMorgan Chase & Co. raised its position in Biohaven by 85.4% during the third quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock worth $40,448,000 after acquiring an additional 372,737 shares in the last quarter. Finally, XTX Topco Ltd raised its position in Biohaven by 278.5% during the third quarter. XTX Topco Ltd now owns 32,510 shares of the company’s stock worth $1,625,000 after acquiring an additional 23,921 shares in the last quarter. 88.78% of the stock is owned by institutional investors.

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.