Robert W. Baird Increases Biohaven (NYSE:BHVN) Price Target to $60.00

Biohaven (NYSE:BHVN) had its price objective boosted by equities researchers at Robert W. Baird from $58.00 to $60.00 in a report issued on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 33.16% from the company’s previous close.

A number of other brokerages have also recently issued reports on BHVN. Sanford C. Bernstein initiated coverage on shares of Biohaven in a research note on Wednesday, September 4th. They issued an “outperform” rating and a $55.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Biohaven in a research note on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $59.00 price objective on shares of Biohaven in a research note on Wednesday, September 4th. HC Wainwright reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research note on Thursday, May 30th. Finally, William Blair raised shares of Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $60.92.

Biohaven Trading Down 1.9 %

Shares of Biohaven stock opened at $45.06 on Monday. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -6.60 and a beta of 1.30. Biohaven has a 1-year low of $16.48 and a 1-year high of $62.21. The firm’s 50-day moving average price is $38.65 and its two-hundred day moving average price is $40.65.

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

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs purchased 28,400 shares of the stock in a transaction on Thursday, July 18th. The shares were purchased at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the purchase, the director now owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BHVN. Principal Financial Group Inc. grew its position in shares of Biohaven by 47.6% in the 4th quarter. Principal Financial Group Inc. now owns 27,935 shares of the company’s stock valued at $1,196,000 after acquiring an additional 9,005 shares during the period. TD Asset Management Inc grew its position in shares of Biohaven by 31.0% in the 4th quarter. TD Asset Management Inc now owns 276,172 shares of the company’s stock valued at $11,820,000 after acquiring an additional 65,426 shares during the period. Stifel Financial Corp grew 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 acquiring an additional 456,062 shares during the period. Capstone Investment Advisors LLC bought a new position in shares of Biohaven in the 4th quarter valued at about $235,000. Finally, Prevail Innovative Wealth Advisors LLC bought a new position in shares of Biohaven in the 4th quarter valued at about $230,000. 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.