Cantor Fitzgerald Reaffirms “Overweight” Rating for Biohaven (NYSE:BHVN)

Biohaven (NYSE:BHVN)‘s stock had its “overweight” rating restated by research analysts at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports.

Several other research firms have also issued reports on BHVN. Bank of America increased their price target on shares of Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. William Blair raised shares of Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright reissued a “buy” rating and set a $59.00 price target on shares of Biohaven in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their price target on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, Sanford C. Bernstein increased their price target on shares of Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $61.92.

Biohaven Trading Down 1.3 %

Biohaven stock traded down $0.68 on Wednesday, reaching $51.97. 202,797 shares of the stock were exchanged, compared to its average volume of 1,168,930. The stock has a market cap of $4.59 billion, a PE ratio of -7.61 and a beta of 1.31. Biohaven has a twelve month low of $25.97 and a twelve month high of $62.21. The firm has a fifty day moving average price of $44.04 and a two-hundred day moving average price of $40.01.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). Equities analysts anticipate that Biohaven will post -8.82 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John W. Childs purchased 21,052 shares of Biohaven stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the transaction, the director now owns 21,052 shares of the company’s stock, valued at approximately $999,970. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gregory Bailey purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Childs acquired 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now owns 21,052 shares in the company, valued at approximately $999,970. The disclosure for this purchase can be found here. 16.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently added to or reduced their stakes in BHVN. Cypress Wealth Services LLC bought a new position in Biohaven during the 1st quarter worth $326,000. Commonwealth Equity Services LLC increased its stake in shares of Biohaven by 7.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 12,188 shares of the company’s stock valued at $667,000 after purchasing an additional 830 shares during the last quarter. SeaBridge Investment Advisors LLC bought a new stake in Biohaven during the 1st quarter worth $1,501,000. Capstone Investment Advisors LLC lifted its holdings in Biohaven by 88.4% during the 1st quarter. Capstone Investment Advisors LLC now owns 10,336 shares of the company’s stock worth $565,000 after buying an additional 4,850 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Biohaven during the 1st quarter worth about $766,000. Institutional investors own 88.78% of the company’s stock.

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.