Biohaven (NYSE:BHVN) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Biohaven (NYSE:BHVN) in a research report sent to investors on Tuesday morning, Benzinga reports.

Other research analysts also recently issued research reports about the company. HC Wainwright restated a buy rating and issued a $59.00 price objective on shares of Biohaven in a research note on Tuesday. William Blair upgraded shares of Biohaven to a strong-buy rating in a report on Friday, August 30th. Royal Bank of Canada boosted their target price on shares of Biohaven from $59.00 to $68.00 and gave the company an outperform rating in a research note on Tuesday. Leerink Partners raised their price target on shares of Biohaven from $55.00 to $60.00 and gave the stock an outperform rating in a research note on Monday, September 23rd. Finally, UBS Group reduced their price objective on Biohaven from $55.00 to $54.00 and set a buy rating for the company in a report on Tuesday, August 13th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and an average target price of $60.92.

Biohaven Price Performance

BHVN opened at $51.00 on Tuesday. Biohaven has a fifty-two week low of $22.12 and a fifty-two week high of $62.21. The firm has a market capitalization of $4.50 billion, a P/E ratio of -7.47 and a beta of 1.30. The company’s 50-day moving average is $39.53 and its 200 day moving average is $40.75.

Biohaven (NYSE:BHVN) last posted its 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). On average, equities research analysts expect that Biohaven will post -8.92 earnings per share for the current year.

Insider Activity

In other Biohaven news, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John W. Childs purchased 28,400 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the purchase, the director now directly owns 2,339,741 shares in the company, valued at $83,458,561.47. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were bought at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the transaction, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC bought a new stake in Biohaven during the second quarter worth about $61,000. Elkhorn Partners Limited Partnership purchased a new position in shares of Biohaven during the 2nd quarter valued at about $125,000. Quarry LP lifted its position in Biohaven by 614.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $174,000 after buying an additional 4,300 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in Biohaven in the fourth quarter worth approximately $230,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Biohaven in the fourth quarter worth approximately $235,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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.