Biohaven’s (BHVN) Buy Rating Reiterated at HC Wainwright

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

BHVN has been the subject of several other reports. Morgan Stanley began coverage on Biohaven in a report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price for the company. Royal Bank of Canada cut their target price on shares of Biohaven from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. upped their price target on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. TD Cowen raised their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group lowered their price objective on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $63.42.

Biohaven Trading Down 8.8 %

Shares of NYSE BHVN opened at $44.39 on Thursday. The stock has a market cap of $4.49 billion, a price-to-earnings ratio of -4.75 and a beta of 1.31. The stock’s 50-day moving average is $48.16 and its 200 day moving average is $40.92. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). On average, analysts forecast that Biohaven will post -8.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director John W. Childs acquired 21,052 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the acquisition, the director now owns 21,052 shares in the company, valued at $999,970. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. This trade represents a 0.31 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BHVN. nVerses Capital LLC bought a new position in shares of Biohaven during the third quarter valued at $50,000. Redwood Wealth Management Group LLC purchased a new stake in Biohaven during the 2nd quarter valued at about $61,000. Values First Advisors Inc. bought a new stake in Biohaven during the 3rd quarter valued at about $78,000. US Bancorp DE raised its holdings in Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after buying an additional 790 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after buying an additional 443 shares in the last quarter. Hedge funds and other 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.