Analysts Set Biohaven Ltd. (NYSE:BHVN) Target Price at $54.70

Shares of Biohaven Ltd. (NYSE:BHVN) have received a consensus recommendation of “Buy” from the fourteen ratings firms that are covering the firm, Marketbeat reports. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $60.92.

Several analysts have commented on the company. Morgan Stanley assumed coverage on Biohaven in a report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price target for the company. Bank of America lifted their price target on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday. Leerink Partners lifted their price target on Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday. Robert W. Baird lifted their price target on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday. Finally, Royal Bank of Canada lifted their price target on Biohaven from $59.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday.

Biohaven Trading Down 1.9 %

Shares of BHVN stock opened at $45.06 on Wednesday. The firm has a 50-day moving average price of $38.65 and a 200 day moving average price of $40.65. Biohaven has a twelve month low of $16.48 and a twelve month high of $62.21. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -6.60 and a beta of 1.30.

Biohaven (NYSE:BHVN) last announced its earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($1.92). As a group, research analysts predict that Biohaven will post -8.92 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John W. Childs purchased 28,400 shares of the firm’s stock in a transaction 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 acquisition, the director now directly owns 2,339,741 shares in the company, valued at $83,458,561.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biohaven

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Biohaven by 280.5% in the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after purchasing an additional 4,650,702 shares in the last quarter. Stifel Financial Corp raised its position in shares of Biohaven by 7.9% in the 4th quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock valued at $266,465,000 after purchasing an additional 456,062 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Biohaven by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock valued at $183,050,000 after purchasing an additional 212,699 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after purchasing an additional 1,458,072 shares in the last quarter. Finally, Farallon Capital Management LLC raised its position in shares of Biohaven by 181.4% in the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after purchasing an additional 1,449,000 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

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.