Biohaven Ltd. (NYSE:BHVN) Receives $62.77 Average PT from Brokerages

Biohaven Ltd. (NYSE:BHVN) has earned a consensus recommendation of “Buy” from the fifteen research firms that are currently covering the firm, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $62.77.

BHVN has been the topic of several analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. JPMorgan Chase & Co. cut their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. HC Wainwright reaffirmed a “buy” rating and issued a $54.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Biohaven and gave the stock a “buy” rating in a research report on Thursday, March 20th. Finally, Morgan Stanley decreased their price objective on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th.

Biohaven Stock Performance

Shares of BHVN opened at $17.55 on Friday. The stock has a fifty day moving average price of $30.45 and a two-hundred day moving average price of $39.57. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -1.88 and a beta of 1.33. Biohaven has a 52-week low of $15.79 and a 52-week high of $55.70.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.29). As a group, research analysts predict that Biohaven will post -8.9 EPS for the current fiscal year.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs acquired 32,700 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, the director now directly owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 16.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biohaven

A number of large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its stake in Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company’s stock valued at $33,000 after purchasing an additional 1,036 shares in the last quarter. Spire Wealth Management acquired a new position in Biohaven in the 4th quarter worth about $56,000. Amalgamated Bank raised its holdings in Biohaven by 21.9% in the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after buying an additional 527 shares during the last quarter. US Bancorp DE grew its stake in shares of Biohaven by 36.7% in the fourth quarter. US Bancorp DE now owns 2,971 shares of the company’s stock worth $111,000 after purchasing an additional 798 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Biohaven in the 4th quarter valued at about $112,000. Institutional investors and hedge funds 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.