Biohaven Ltd. (NYSE:BHVN) Receives $52.00 Consensus PT from Analysts

Biohaven Ltd. (NYSE:BHVN) has earned an average recommendation of “Buy” from the eight analysts that are currently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $52.13.

BHVN has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. HC Wainwright raised their price objective on Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Thursday, April 18th. UBS Group increased their price target on shares of Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a research report on Tuesday, April 9th.

Biohaven Price Performance

NYSE:BHVN opened at $39.60 on Friday. The firm has a market cap of $3.24 billion, a PE ratio of -7.00 and a beta of 1.18. The company has a 50-day moving average of $51.63 and a 200 day moving average of $41.70. Biohaven has a 1-year low of $12.35 and a 1-year high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.40). Sell-side analysts anticipate that Biohaven will post -5.85 EPS for the current fiscal year.

Insider Transactions at Biohaven

In related news, Director Gregory Bailey purchased 48,780 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were acquired at an average price of $41.00 per share, for a total transaction of $1,999,980.00. Following the purchase, the director now owns 1,574,568 shares of the company’s stock, valued at approximately $64,557,288. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gregory Bailey purchased 48,780 shares of the stock in a transaction on Monday, April 22nd. The stock was bought at an average price of $41.00 per share, with a total value of $1,999,980.00. Following the transaction, the director now owns 1,574,568 shares in the company, valued at approximately $64,557,288. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Vlad Coric acquired 121,951 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at approximately $73,325,097. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of institutional investors have recently bought and sold shares of the business. FSC Wealth Advisors LLC increased its stake in shares of Biohaven by 50.0% in the third quarter. FSC Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $390,000 after acquiring an additional 5,000 shares during the period. Raymond James & Associates raised its stake in shares of Biohaven by 104.3% during the 3rd quarter. Raymond James & Associates now owns 27,545 shares of the company’s stock valued at $716,000 after buying an additional 14,065 shares during the last quarter. Weybosset Research & Management LLC lifted its holdings in shares of Biohaven by 19.7% in the 3rd quarter. Weybosset Research & Management LLC now owns 12,140 shares of the company’s stock valued at $316,000 after buying an additional 2,000 shares during the period. Strs Ohio boosted its stake in shares of Biohaven by 99.2% in the third quarter. Strs Ohio now owns 24,100 shares of the company’s stock worth $626,000 after buying an additional 12,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Biohaven by 13.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,071 shares of the company’s stock worth $990,000 after acquiring an additional 4,540 shares during the period. 88.78% of the stock is owned by hedge funds and other 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.