Biohaven (NYSE:BHVN) Price Target Raised to $68.00 at JPMorgan Chase & Co.

Biohaven (NYSE:BHVN) had its price objective upped by JPMorgan Chase & Co. from $55.00 to $68.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on BHVN. Jefferies Financial Group initiated coverage on Biohaven in a report on Monday, September 16th. They issued a buy rating and a $57.00 target price on the stock. HC Wainwright reissued a buy rating and issued a $59.00 price objective on shares of Biohaven in a report on Tuesday, September 24th. UBS Group reduced their target price on shares of Biohaven from $55.00 to $54.00 and set a buy rating for the company in a report on Tuesday, August 13th. William Blair upgraded shares of Biohaven to a strong-buy rating in a research report on Friday, August 30th. Finally, Morgan Stanley assumed 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. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $61.92.

Biohaven Stock Up 2.1 %

Shares of BHVN stock opened at $47.63 on Thursday. The firm has a market capitalization of $4.21 billion, a PE ratio of -6.97 and a beta of 1.31. The company has a 50 day moving average price of $40.47 and a 200-day moving average price of $40.17. Biohaven has a 52 week low of $22.38 and a 52 week high of $62.21.

Biohaven (NYSE:BHVN) last announced its earnings results 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). Analysts anticipate that Biohaven will post -8.92 earnings per share for the current year.

Insider Transactions at Biohaven

In related news, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction 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 directly owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was purchased 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 directly 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Childs bought 28,400 shares of the firm’s 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 transaction, the director now directly owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 54,452 shares of company stock valued at $2,233,948 over the last 90 days. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BHVN. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 4,650,702 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake 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 during the last quarter. Point72 Asset Management L.P. lifted its stake 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 during the last quarter. Farallon Capital Management LLC boosted its holdings 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 worth $78,028,000 after purchasing an additional 1,449,000 shares during the period. Finally, Perceptive Advisors LLC increased its position in shares of Biohaven by 129.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock valued at $73,832,000 after purchasing an additional 973,227 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

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.