Biohaven Ltd. (NYSE:BHVN) Given Average Recommendation of “Buy” by Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have received a consensus rating of “Buy” from the fifteen ratings firms that are covering the company, MarketBeat.com reports. Fourteen analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $63.15.

Several research firms recently commented on BHVN. TD Cowen raised their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Biohaven in a research note on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $59.00 price objective on shares of Biohaven in a report on Tuesday, December 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th.

Insider Buying and Selling

In other news, Director John W. Childs bought 29,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased 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. The trade was a 1.24 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Hedge funds and other institutional investors have recently made changes to their positions in the business. Creative Planning grew its holdings in Biohaven by 57.9% in the 3rd quarter. Creative Planning now owns 18,209 shares of the company’s stock valued at $910,000 after buying an additional 6,674 shares during the last quarter. nVerses Capital LLC acquired a new position in Biohaven during the 3rd quarter valued at $50,000. Cadent Capital Advisors LLC bought a new stake in Biohaven in the 3rd quarter valued at $1,771,000. Values First Advisors Inc. bought a new position in shares of Biohaven during the 3rd quarter worth about $78,000. Finally, US Bancorp DE raised its position in shares of Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares during the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Trading Down 7.2 %

Shares of NYSE BHVN opened at $36.90 on Friday. Biohaven has a one year low of $26.80 and a one year high of $62.21. The business has a 50-day moving average price of $38.35 and a two-hundred day moving average price of $42.71. The firm has a market capitalization of $3.73 billion, a PE ratio of -3.95 and a beta of 1.28.

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.