Biohaven (NYSE:BHVN) Rating Reiterated by Cantor Fitzgerald

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

A number of other research analysts have also weighed in on BHVN. Piper Sandler raised their price objective on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Royal Bank of Canada lifted their price target on Biohaven from $59.00 to $68.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Sanford C. Bernstein raised their target price on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price target on Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Finally, Leerink Partners raised their price objective on Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Biohaven presently has an average rating of “Buy” and an average target price of $61.92.

Biohaven Trading Down 0.7 %

BHVN opened at $52.36 on Wednesday. Biohaven has a 1-year low of $25.97 and a 1-year high of $62.21. The company has a market cap of $4.62 billion, a P/E ratio of -7.67 and a beta of 1.31. The company has a fifty day moving average price of $44.59 and a two-hundred day moving average price of $40.18.

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). On average, research analysts forecast that Biohaven will post -8.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Gregory Bailey purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was bought at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the purchase, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Childs acquired 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, for a total transaction of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares in the company, valued at $999,970. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BHVN. Vanguard Group Inc. boosted its holdings in shares of Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after acquiring an additional 4,650,702 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in 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 worth $183,050,000 after purchasing an additional 212,699 shares during the period. Farallon Capital Management LLC grew its holdings in Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after buying an additional 1,449,000 shares in the last quarter. Darwin Global Management Ltd. bought a new stake in shares of Biohaven during the first quarter valued at about $80,776,000. Finally, Armistice Capital LLC lifted its holdings in shares of Biohaven by 74.8% in the second quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock worth $48,489,000 after buying an additional 597,705 shares in the last quarter. 88.78% of the stock is owned by 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.