Biohaven (NYSE:BHVN) PT Raised to $60.00 at Leerink Partners

Biohaven (NYSE:BHVN) had its price objective boosted by Leerink Partners from $55.00 to $60.00 in a research note published on Monday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on the stock. Piper Sandler boosted their price objective on shares of Biohaven from $66.00 to $76.00 and gave the stock an overweight rating in a research report on Monday. Jefferies Financial Group initiated coverage on shares of Biohaven in a research note on Monday, September 16th. They issued a buy rating and a $57.00 price target on the stock. Morgan Stanley assumed coverage on shares of Biohaven in a research note on Wednesday, July 24th. They set an overweight rating and a $58.00 price objective for the company. Cantor Fitzgerald reaffirmed an overweight rating on shares of Biohaven in a research report on Monday, August 19th. Finally, Robert W. Baird upped their target price on Biohaven from $58.00 to $60.00 and gave the stock an outperform rating in a report on Monday. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Buy and a consensus price target of $60.92.

Biohaven Trading Up 9.3 %

BHVN stock opened at $49.22 on Monday. The stock has a market cap of $4.65 billion, a PE ratio of -7.21 and a beta of 1.30. The stock has a 50-day moving average price of $38.90 and a two-hundred day moving average price of $40.71. Biohaven has a 1 year low of $17.17 and a 1 year high of $62.21.

Biohaven (NYSE:BHVN) last announced its earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). On average, analysts forecast that Biohaven will post -8.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John W. Childs purchased 28,400 shares of the stock in a transaction dated Thursday, July 18th. The stock was bought at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the acquisition, the director now owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gregory Bailey bought 5,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently modified their holdings of the business. Redwood Wealth Management Group LLC bought a new position in Biohaven during the 2nd quarter worth $61,000. Elkhorn Partners Limited Partnership bought a new stake in shares of Biohaven in the 2nd quarter valued at about $125,000. Quarry LP increased its stake in shares of Biohaven by 614.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after buying an additional 4,300 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Biohaven during the fourth quarter worth about $230,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Biohaven in the fourth quarter worth approximately $235,000. Institutional investors and hedge funds 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.