Biohaven’s (BHVN) “Buy” Rating Reiterated at BTIG Research

Biohaven (NYSE:BHVN)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a note issued to investors on Tuesday,Benzinga reports. They currently have a $16.00 price target on the stock. BTIG Research’s price objective points to a potential upside of 93.59% from the stock’s current price.

Several other analysts have also issued reports on BHVN. Royal Bank Of Canada reduced their target price on Biohaven from $19.00 to $9.00 and set a “sector perform” rating on the stock in a report on Thursday, November 6th. UBS Group cut their price objective on shares of Biohaven from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, September 16th. Sanford C. Bernstein reiterated a “market perform” rating and set a $9.00 price objective (down from $34.00) on shares of Biohaven in a research note on Thursday, November 6th. Morgan Stanley restated an “overweight” rating on shares of Biohaven in a research report on Wednesday, November 5th. Finally, William Blair reaffirmed a “market perform” rating on shares of Biohaven in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.21.

Biohaven Price Performance

Shares of Biohaven stock opened at $8.27 on Tuesday. The company has a quick ratio of 2.86, a current ratio of 2.86 and a debt-to-equity ratio of 1.91. The stock has a market capitalization of $874.93 million, a price-to-earnings ratio of -1.09 and a beta of 1.10. Biohaven has a twelve month low of $7.48 and a twelve month high of $47.75. The company has a 50-day simple moving average of $14.24 and a two-hundred day simple moving average of $15.03.

Biohaven (NYSE:BHVN) last announced its earnings results on Monday, November 10th. The company reported ($1.64) EPS for the quarter, topping the consensus estimate of ($1.91) by $0.27. Analysts forecast that Biohaven will post -8.9 EPS for the current year.

Insider Activity

In related news, Director Gregory Bailey purchased 400,000 shares of the stock in a transaction dated Thursday, November 13th. The stock was bought at an average cost of $7.50 per share, for a total transaction of $3,000,000.00. Following the completion of the acquisition, the director owned 2,020,071 shares of the company’s stock, valued at approximately $15,150,532.50. This represents a 24.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Childs acquired 3,333,333 shares of the business’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $7.50 per share, for a total transaction of $24,999,997.50. Following the acquisition, the director owned 5,653,904 shares in the company, valued at $42,404,280. This represents a 143.64% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have purchased 4,399,999 shares of company stock worth $32,999,993. Corporate insiders own 14.60% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Large investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd raised its holdings in Biohaven by 838.2% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 251,882 shares of the company’s stock valued at $3,554,000 after buying an additional 225,036 shares during the last quarter. Simplify Asset Management Inc. bought a new stake in Biohaven during the 2nd quarter worth approximately $1,360,000. Fiera Capital Corp bought a new stake in Biohaven during the 1st quarter worth approximately $13,983,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Biohaven in the 2nd quarter valued at approximately $244,000. Finally, New York State Common Retirement Fund raised its stake in shares of Biohaven by 589.9% during the first quarter. New York State Common Retirement Fund now owns 160,251 shares of the company’s stock valued at $3,852,000 after acquiring an additional 137,024 shares during the last quarter. 88.78% of the stock is currently 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.