Biohaven Ltd. (NYSE:BHVN) Receives Consensus Rating of “Buy” from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have earned a consensus rating of “Buy” from the twelve ratings firms that are covering the stock, Marketbeat Ratings reports. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $54.70.

Several brokerages have issued reports on BHVN. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 price target on shares of Biohaven in a report on Wednesday, September 4th. William Blair raised Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright reaffirmed a “buy” rating and issued a $59.00 price target on shares of Biohaven in a research note on Thursday, May 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Monday, August 19th. Finally, Morgan Stanley initiated coverage on shares of Biohaven in a report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price objective on the stock.

Biohaven Trading Down 0.1 %

Biohaven stock opened at $40.39 on Wednesday. The firm has a market capitalization of $3.57 billion, a P/E ratio of -5.91 and a beta of 1.30. The business has a 50-day moving average of $38.35 and a 200-day moving average of $40.83. Biohaven has a 1 year low of $16.45 and a 1 year high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data 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). Research analysts anticipate that Biohaven will post -8.92 EPS for the current fiscal year.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs bought 28,400 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price 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 approximately $83,458,561.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Biohaven by 280.5% during the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after purchasing an additional 4,650,702 shares during the period. Stifel Financial Corp lifted its stake in shares of Biohaven by 7.9% during the 4th quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock worth $266,465,000 after buying an additional 456,062 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Biohaven by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock worth $183,050,000 after buying an additional 212,699 shares during the period. Point72 Asset Management L.P. grew its stake in Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after buying an additional 1,458,072 shares during the last quarter. Finally, Farallon Capital Management LLC raised its holdings in Biohaven by 181.4% in the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after acquiring an additional 1,449,000 shares during the period. Institutional investors own 88.78% of the company’s stock.

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.