Cantor Fitzgerald Reiterates “Overweight” Rating for Biohaven (NYSE:BHVN)

Biohaven (NYSE:BHVN)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a report on Tuesday, April 9th. TD Cowen raised their price target on Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. UBS Group began coverage on Biohaven in a research note on Tuesday, February 6th. They set a “buy” rating and a $59.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, HC Wainwright raised their price target on Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $52.00.

Biohaven Stock Performance

BHVN opened at $38.99 on Thursday. Biohaven has a one year low of $12.35 and a one year high of $62.21. The company has a market cap of $3.18 billion, a P/E ratio of -6.89 and a beta of 1.18. The business’s 50-day simple moving average is $51.84 and its 200-day simple moving average is $41.34.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). As a group, analysts predict that Biohaven will post -5.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE grew its stake in shares of Biohaven by 19.1% in the 1st quarter. US Bancorp DE now owns 586 shares of the company’s stock valued at $70,000 after purchasing an additional 94 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Biohaven in the 1st quarter valued at approximately $200,000. KBC Group NV purchased a new position in shares of Biohaven in the 4th quarter valued at approximately $74,000. Zebra Capital Management LLC purchased a new position in shares of Biohaven in the 1st quarter valued at approximately $236,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Biohaven in the 1st quarter valued at approximately $269,000. 88.78% of the stock is currently 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.