Biohaven Ltd. (NYSE:BHVN) Given Consensus Recommendation of “Buy” by Brokerages

Biohaven Ltd. (NYSE:BHVN) has been assigned a consensus rating of “Buy” from the fourteen analysts that are presently covering the stock, Marketbeat reports. Thirteen equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $61.92.

A number of research analysts recently issued reports on BHVN shares. Bank of America lifted their target price on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, September 24th. Robert W. Baird lifted their price objective on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Sanford C. Bernstein increased their target price on shares of Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Morgan Stanley began coverage on shares of Biohaven in a research report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Friday, October 4th.

Insider Transactions at Biohaven

In other Biohaven news, Director Gregory Bailey purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Childs acquired 21,052 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the purchase, the director now owns 21,052 shares in the company, valued at approximately $999,970. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by insiders.

Institutional Trading of Biohaven

A number of institutional investors have recently bought and sold shares of BHVN. Vanguard Group Inc. increased its position in Biohaven by 280.5% in the 1st 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 last quarter. Price T Rowe Associates Inc. MD increased its holdings in Biohaven by 6.8% in the first 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 last quarter. Farallon Capital Management LLC raised its position in Biohaven by 181.4% during the second 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 in the last quarter. Darwin Global Management Ltd. acquired a new stake in Biohaven in the first quarter valued at approximately $80,776,000. Finally, Armistice Capital LLC grew its position in Biohaven by 74.8% in the second quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock worth $48,489,000 after acquiring an additional 597,705 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Price Performance

NYSE BHVN opened at $52.96 on Friday. Biohaven has a 12 month low of $25.97 and a 12 month high of $62.21. The firm has a market capitalization of $4.68 billion, a PE ratio of -7.75 and a beta of 1.31. The company’s 50 day simple moving average is $43.48 and its 200 day simple moving average is $40.17.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Sell-side analysts anticipate that Biohaven will post -8.82 earnings per share for the current fiscal year.

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.