Biohaven (NYSE:BHVN) Now Covered by Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Biohaven (NYSE:BHVN) in a research note published on Wednesday morning, Marketbeat reports. The firm issued an outperform rating and a $55.00 price objective on the stock.

A number of other analysts also recently issued reports on BHVN. Royal Bank of Canada reaffirmed an outperform rating and set a $59.00 price target on shares of Biohaven in a report on Tuesday, June 18th. HC Wainwright reaffirmed a buy rating and issued a $59.00 price target on shares of Biohaven in a report on Thursday, May 30th. Cantor Fitzgerald reiterated an overweight rating on shares of Biohaven in a research note on Monday, August 19th. Morgan Stanley initiated coverage on shares of Biohaven in a research report on Wednesday, July 24th. They set an overweight rating and a $58.00 price objective for the company. Finally, UBS Group dropped their target price on shares of Biohaven from $55.00 to $54.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and an average target price of $54.44.

Biohaven Stock Performance

BHVN stock opened at $36.90 on Wednesday. The company’s 50 day moving average price is $37.81 and its 200 day moving average price is $41.79. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of -5.40 and a beta of 1.30. Biohaven has a fifty-two week low of $16.45 and a fifty-two week high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data 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 analysts forecast that Biohaven will post -8.92 EPS for the current fiscal year.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 28,400 shares of Biohaven stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the purchase, the director now directly owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 16.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biohaven

Several institutional investors have recently modified their holdings of BHVN. Redwood Wealth Management Group LLC purchased a new position in Biohaven in the 2nd quarter valued at approximately $61,000. Elkhorn Partners Limited Partnership acquired a new stake in Biohaven in the second quarter valued at $125,000. Quarry LP increased its position in shares of Biohaven by 614.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after buying an additional 4,300 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Biohaven during the 4th quarter worth $230,000. Finally, Private Advisor Group LLC acquired a new position in shares of Biohaven during the 4th quarter worth $231,000. 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.