Biohaven Ltd. (NYSE:BHVN) Receives $55.00 Consensus Price Target from Brokerages

Biohaven Ltd. (NYSE:BHVN) has received an average rating of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $55.00.

Several analysts have issued reports on BHVN shares. HC Wainwright reissued a “buy” rating and set a $59.00 target price on shares of Biohaven in a research note on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research note on Thursday, May 30th. UBS Group upped their price target on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research note on Tuesday, April 9th. 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 research note on Friday, February 23rd.

Insiders Place Their Bets

In other Biohaven news, CEO Vlad Coric bought 121,951 shares of the stock in a transaction on Monday, April 22nd. The shares were purchased 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 directly owns 1,788,417 shares of the company’s stock, valued at approximately $73,325,097. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Vlad Coric purchased 121,951 shares of the firm’s stock in a transaction on 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 acquisition, 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 filing with the SEC, which is available through the SEC website. Also, Director John W. Childs purchased 28,500 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $35.17 per share, with a total value of $1,002,345.00. Following the completion of the acquisition, the director now directly owns 2,283,341 shares of the company’s stock, valued at $80,305,102.97. The disclosure for this purchase can be found here. Insiders have acquired 252,734 shares of company stock valued at $9,997,764 over the last three months. 16.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biohaven

A number of hedge funds have recently bought and sold shares of BHVN. Vanguard Group Inc. lifted its stake in shares of Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after buying an additional 4,650,702 shares during the period. Stifel Financial Corp lifted its stake in shares of Biohaven by 7.9% in the fourth quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock valued at $266,465,000 after buying an additional 456,062 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 valued at $183,050,000 after buying an additional 212,699 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Biohaven by 142.2% in the fourth quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after buying an additional 1,458,072 shares during the period. Finally, Armistice Capital LLC lifted its stake in shares of Biohaven by 13.1% in the third quarter. Armistice Capital LLC now owns 2,036,000 shares of the company’s stock valued at $52,956,000 after buying an additional 236,000 shares during the period. 88.78% of the stock is currently owned by institutional investors.

Biohaven Stock Up 1.3 %

Shares of NYSE:BHVN opened at $33.83 on Monday. The company’s fifty day moving average is $39.22 and its two-hundred day moving average is $44.06. Biohaven has a 12-month low of $16.45 and a 12-month high of $62.21. The company has a market cap of $2.99 billion, a P/E ratio of -4.95 and a beta of 1.21.

Biohaven (NYSE:BHVN) last announced its earnings results on Thursday, May 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.50) by ($0.70). Equities research analysts anticipate that Biohaven will post -7.16 earnings per share for the current year.

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.