HC Wainwright Reiterates Buy Rating for Biohaven (NYSE:BHVN)

HC Wainwright reaffirmed their buy rating on shares of Biohaven (NYSE:BHVN) in a research note published on Tuesday morning,Benzinga reports. HC Wainwright currently has a $54.00 target price on the stock.

A number of other equities research analysts also recently weighed in on BHVN. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research report on Tuesday. Finally, TD Cowen lifted their price target on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $62.77.

Biohaven Stock Down 1.9 %

Shares of BHVN stock opened at $30.37 on Tuesday. The firm has a 50 day moving average price of $37.98 and a two-hundred day moving average price of $42.58. The company has a market capitalization of $3.07 billion, a PE ratio of -3.25 and a beta of 1.27. Biohaven has a 12-month low of $26.80 and a 12-month high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.29). As a group, research analysts expect that Biohaven will post -8.9 EPS for the current year.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 32,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, with a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 16.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BHVN. Vanguard Group Inc. grew its stake in shares of Biohaven by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after buying an additional 628,211 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Biohaven by 12.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company’s stock worth $260,735,000 after buying an additional 756,032 shares during the last quarter. Stifel Financial Corp grew its stake in shares of Biohaven by 0.8% during the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company’s stock worth $244,990,000 after buying an additional 50,052 shares during the last quarter. Suvretta Capital Management LLC grew its stake in shares of Biohaven by 8.1% during the fourth quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company’s stock worth $209,917,000 after buying an additional 421,052 shares during the last quarter. Finally, Farallon Capital Management LLC grew its stake in shares of Biohaven by 21.6% during the fourth quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company’s stock worth $165,392,000 after buying an additional 785,578 shares during the last quarter. 88.78% of the stock is owned by 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.