Biohaven (NYSE:BHVN) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Biohaven (NYSE:BHVN) in a research note published on Friday, Benzinga reports.

Several other equities research analysts have also commented on the company. HC Wainwright reiterated a buy rating and set a $59.00 price objective on shares of Biohaven in a research note on Tuesday, September 24th. Jefferies Financial Group assumed 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. Sanford C. Bernstein raised their target price on Biohaven from $55.00 to $66.00 and gave the company an outperform rating in a report on Tuesday, September 24th. Morgan Stanley assumed coverage on shares of Biohaven in a research note on Wednesday, July 24th. They issued an overweight rating and a $58.00 price target for the company. Finally, Bank of America raised their target price on shares of Biohaven from $52.00 to $62.00 and gave the company a buy rating in a report on Tuesday, September 24th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Buy and a consensus price target of $61.92.

Biohaven Stock Performance

NYSE BHVN opened at $52.78 on Friday. The company has a market cap of $4.66 billion, a PE ratio of -7.73 and a beta of 1.31. Biohaven has a 52-week low of $23.73 and a 52-week high of $62.21. The firm’s 50 day moving average price is $40.73 and its 200-day moving average price is $40.15.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) 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.

Insider Buying and Selling

In other news, Director John W. Childs bought 28,400 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the purchase, the director now owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other Biohaven news, Director John W. Childs purchased 21,052 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the acquisition, the director now owns 21,052 shares of the company’s stock, valued at approximately $999,970. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Childs bought 28,400 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the purchase, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 54,452 shares of company stock worth $2,233,948 in the last quarter. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Biohaven by 280.5% in the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after acquiring an additional 4,650,702 shares during the last quarter. Darwin Global Management Ltd. bought a new position in Biohaven during the 1st quarter worth $80,776,000. Point72 Asset Management L.P. increased its position in Biohaven by 142.2% in the fourth quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock worth $106,297,000 after buying an additional 1,458,072 shares during the period. Farallon Capital Management LLC lifted its stake in Biohaven by 181.4% in the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after buying an additional 1,449,000 shares during the last quarter. Finally, Bellevue Group AG acquired a new position in shares of Biohaven during the fourth quarter valued at $46,010,000. 88.78% of the stock is owned by institutional investors and hedge funds.

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.