Biohaven (NYSE:BHVN) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Biohaven (NYSE:BHVN) in a research report sent to investors on Friday morning, Benzinga reports.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Biohaven from $55.00 to $68.00 and gave the company an overweight rating in a research report on Thursday. Leerink Partners upped their price target on shares of Biohaven from $55.00 to $60.00 and gave the company an outperform rating in a report on Monday, September 23rd. Jefferies Financial Group started coverage on shares of Biohaven in a report on Monday, September 16th. They set a buy rating and a $57.00 price objective on the stock. William Blair raised shares of Biohaven to a strong-buy rating in a research note on Friday, August 30th. Finally, Sanford C. Bernstein lifted their price target on Biohaven from $55.00 to $66.00 and gave the company an outperform rating in a research note on Tuesday, September 24th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Biohaven has an average rating of Buy and a consensus price target of $61.92.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $47.63 on Friday. The firm’s 50 day simple moving average is $40.47 and its 200 day simple moving average is $40.17. Biohaven has a fifty-two week low of $22.38 and a fifty-two week high of $62.21. The company has a market capitalization of $4.21 billion, a price-to-earnings ratio of -6.97 and a beta of 1.31.

Biohaven (NYSE:BHVN) last announced 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). Equities research analysts expect that Biohaven will post -8.92 earnings per share for the current year.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 28,400 shares of Biohaven stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the acquisition, the director now owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other Biohaven news, Director John W. Childs purchased 28,400 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the purchase, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John W. Childs purchased 21,052 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were acquired at an average cost of $47.50 per share, with a total value of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 54,452 shares of company stock valued at $2,233,948. 16.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biohaven

Several hedge funds have recently bought and sold shares of the stock. Seven Eight Capital LP bought a new position in shares of Biohaven during the fourth quarter worth approximately $561,000. Lighthouse Investment Partners LLC bought a new stake in shares of Biohaven in the fourth quarter valued at about $1,325,000. Bellevue Group AG acquired a new position in shares of Biohaven in the fourth quarter valued at about $46,010,000. Point72 Asset Management L.P. increased its position in Biohaven by 142.2% during the fourth quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock worth $106,297,000 after acquiring an additional 1,458,072 shares during the period. Finally, First Light Asset Management LLC acquired a new stake in Biohaven in the 4th quarter worth about $16,425,000. 88.78% of the stock is currently 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.