Biohaven’s (BHVN) “Overweight” Rating Reiterated at Cantor Fitzgerald

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

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird raised their target price on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Leerink Partners raised their price objective on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price (up previously from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Sanford C. Bernstein increased their price target on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $63.00.

Biohaven Price Performance

Shares of Biohaven stock opened at $35.34 on Tuesday. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21. The company’s fifty day simple moving average is $47.88 and its 200-day simple moving average is $41.86. The stock has a market capitalization of $3.57 billion, a PE ratio of -3.78 and a beta of 1.24.

Biohaven (NYSE:BHVN) last released its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03). As a group, research analysts anticipate that Biohaven will post -8.85 EPS for the current year.

Insider Activity at Biohaven

In other Biohaven news, Director John W. Childs purchased 21,052 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average price of $47.50 per share, with a total value of $999,970.00. Following the acquisition, the director now owns 21,052 shares in the company, valued at approximately $999,970. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Bailey acquired 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The shares were bought at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the purchase, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The trade was a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by insiders.

Institutional Trading of Biohaven

Institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC purchased a new stake in shares of Biohaven in the third quarter valued at $50,000. Redwood Wealth Management Group LLC purchased a new stake in Biohaven in the 2nd quarter worth about $61,000. Values First Advisors Inc. bought a new stake in Biohaven in the third quarter worth about $78,000. US Bancorp DE boosted its position in shares of Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares during the period. Finally, KBC Group NV grew its stake in shares of Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after buying an additional 443 shares during the last quarter. 88.78% of the stock is currently owned by 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.