Biohaven (NYSE:BHVN) Price Target Raised to $60.00 at UBS Group

Biohaven (NYSE:BHVN) had its price objective hoisted by analysts at UBS Group from $59.00 to $60.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 55.04% from the stock’s previous close.

A number of other research firms have also recently weighed in on BHVN. HC Wainwright increased their price objective on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. lifted their price objective on Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research note on Thursday, April 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a research note on Tuesday, April 9th. Finally, TD Cowen upped their price objective on Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $52.13.

Biohaven Stock Down 2.3 %

NYSE:BHVN opened at $38.70 on Tuesday. The company has a market capitalization of $3.17 billion, a P/E ratio of -6.84 and a beta of 1.18. Biohaven has a 52 week low of $12.35 and a 52 week high of $62.21. The stock’s fifty day moving average is $51.49 and its two-hundred day moving average is $41.81.

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

Insider Buying and Selling at Biohaven

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BHVN. Thompson Davis & CO. Inc. acquired a new stake in Biohaven during the 4th quarter valued at $214,000. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Biohaven in the fourth quarter valued at approximately $230,000. Private Advisor Group LLC purchased a new position in shares of Biohaven during the fourth quarter valued at approximately $231,000. Capstone Investment Advisors LLC acquired a new stake in Biohaven during the fourth quarter worth approximately $235,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Biohaven in the 3rd quarter worth approximately $236,000. Institutional investors and hedge funds own 88.78% of the company’s stock.

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.