Biohaven Ltd. (NYSE:BHVN) Receives $63.15 Consensus Target Price from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus recommendation of “Buy” by the fifteen research firms that are covering the company, Marketbeat.com reports. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $63.15.

A number of research firms recently commented on BHVN. Deutsche Bank Aktiengesellschaft began coverage on shares of Biohaven in a research report on Tuesday, February 11th. They set a “buy” rating and a $65.00 target price for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. JPMorgan Chase & Co. decreased their target price on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley decreased their target price on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, March 7th.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs acquired 32,700 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the purchase, the director now directly owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. The trade was a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Hedge funds and other institutional investors have recently made changes to their positions in the business. Spire Wealth Management acquired a new stake in shares of Biohaven in the fourth quarter worth $56,000. US Bancorp DE increased its holdings in Biohaven by 57.1% in 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 in the last quarter. Amalgamated Bank increased its holdings in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after buying an additional 527 shares in the last quarter. KBC Group NV increased its holdings in Biohaven by 24.5% in 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 in the last quarter. Finally, Quarry LP purchased a new position in Biohaven in the fourth quarter valued at $112,000. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Stock Performance

Shares of BHVN opened at $29.24 on Wednesday. The company has a 50 day moving average price of $36.87 and a 200-day moving average price of $42.01. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $60.46. The stock has a market capitalization of $2.98 billion, a PE ratio of -3.13 and a beta of 1.27.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). Equities research analysts forecast that Biohaven will post -8.9 EPS for the current year.

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.