Biohaven Ltd. (NYSE:BHVN) Receives Consensus Recommendation of “Buy” from Brokerages

Biohaven Ltd. (NYSE:BHVN) has earned a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $51.63.

BHVN has been the subject of several recent analyst reports. UBS Group upped their price objective on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research note on Thursday, April 18th. HC Wainwright lowered their price objective on shares of Biohaven from $63.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, May 13th. TD Cowen raised their target price on shares of Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd.

Insider Activity at Biohaven

In related news, CEO Vlad Coric acquired 121,951 shares of the stock in a transaction dated Monday, April 22nd. The stock was bought at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the transaction, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gregory Bailey purchased 25,503 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were acquired at an average price of $39.18 per share, with a total value of $999,207.54. Following the completion of the transaction, the director now owns 1,600,071 shares of the company’s stock, valued at approximately $62,690,781.78. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Vlad Coric acquired 121,951 shares of the stock in a transaction dated Monday, April 22nd. The stock was acquired at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the transaction, the chief executive officer now owns 1,788,417 shares in the company, valued at approximately $73,325,097. The disclosure for this purchase can be found here. Insiders purchased 224,734 shares of company stock worth $9,001,524 over the last three months. Company insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Biohaven in the first quarter valued at approximately $455,000. Kennedy Capital Management LLC bought a new stake in shares of Biohaven in the 1st quarter valued at $12,099,000. Darwin Global Management Ltd. acquired a new position in shares of Biohaven during the 1st quarter valued at $80,776,000. Bellevue Group AG boosted its stake in Biohaven by 7.0% during the first quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock worth $62,894,000 after acquiring an additional 75,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Biohaven by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock worth $183,050,000 after purchasing an additional 212,699 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Stock Down 1.9 %

BHVN stock opened at $38.00 on Thursday. The company’s 50-day moving average price is $46.10 and its two-hundred day moving average price is $43.38. The firm has a market cap of $3.35 billion, a P/E ratio of -5.56 and a beta of 1.26. Biohaven has a 12 month low of $14.96 and a 12 month high of $62.21.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.40). Equities analysts predict that Biohaven will post -6.28 EPS for the current year.

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.