Biohaven (NYSE:BHVN) Given Outperform Rating at Royal Bank of Canada

Biohaven (NYSE:BHVN)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $61.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 101.06% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. TD Cowen upped their price target on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright restated a “buy” rating and set a $59.00 target price on shares of Biohaven in a research report on Tuesday, December 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Biohaven in a research note on Tuesday, February 11th. They set a “buy” rating and a $65.00 price objective on the stock. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Biohaven has an average rating of “Buy” and an average target price of $63.15.

Biohaven Trading Down 5.4 %

Shares of BHVN stock opened at $30.34 on Tuesday. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -3.24 and a beta of 1.28. Biohaven has a 12-month low of $26.80 and a 12-month high of $62.21. The stock’s 50-day moving average price is $38.24 and its 200-day moving average price is $42.77.

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

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 29,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the acquisition, the director now directly owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This represents a 1.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Biohaven

Several institutional investors and hedge funds have recently modified their holdings of BHVN. US Bancorp DE increased its holdings in Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after purchasing an additional 790 shares during the period. SpiderRock Advisors LLC purchased a new position in shares of Biohaven during the third quarter valued at $620,000. Venturi Wealth Management LLC raised its holdings in shares of Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock valued at $156,000 after acquiring an additional 500 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Biohaven by 67.1% in the third quarter. Victory Capital Management Inc. now owns 363,615 shares of the company’s stock valued at $18,170,000 after acquiring an additional 145,960 shares in the last quarter. Finally, KBC Group NV lifted its stake in Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares during the period. Institutional investors own 88.78% of the company’s stock.

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.