Biohaven’s (BHVN) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Biohaven (NYSE:BHVN) in a research note issued to investors on Wednesday, Benzinga reports.

BHVN has been the subject of several other reports. Robert W. Baird increased their price target on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Royal Bank of Canada raised their target price on Biohaven from $59.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler upped their target price on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Biohaven has an average rating of “Buy” and a consensus price target of $61.92.

Biohaven Price Performance

Biohaven stock opened at $52.75 on Wednesday. Biohaven has a 12 month low of $25.97 and a 12 month high of $62.21. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -7.72 and a beta of 1.31. The stock’s 50-day moving average is $44.33 and its 200-day moving average is $40.10.

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). Research analysts anticipate that Biohaven will post -8.82 EPS for the current year.

Insider Activity at Biohaven

In other Biohaven news, Director Gregory Bailey acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The stock was bought at an average cost of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Childs acquired 21,052 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now directly owns 21,052 shares of the company’s stock, valued at approximately $999,970. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BHVN. nVerses Capital LLC acquired a new stake in Biohaven in the 3rd quarter valued at about $50,000. Redwood Wealth Management Group LLC bought a new stake in shares of Biohaven in the 2nd quarter worth approximately $61,000. Values First Advisors Inc. acquired a new stake in Biohaven during the third quarter valued at approximately $78,000. Elkhorn Partners Limited Partnership bought a new stake in Biohaven during the second quarter worth approximately $125,000. Finally, Quarry LP grew its position in Biohaven by 614.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $174,000 after buying an additional 4,300 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Company Profile

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.