Biohaven (NYSE:BHVN) Price Target Raised to $75.00 at TD Cowen

Biohaven (NYSE:BHVN) had its target price increased by TD Cowen from $55.00 to $75.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on BHVN. UBS Group cut their target price on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Robert W. Baird increased their price objective on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Sanford C. Bernstein boosted their target price on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. raised their price target on Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Finally, Bank of America lifted their price target on 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $63.42.

Biohaven Price Performance

Shares of BHVN opened at $49.08 on Wednesday. The business’s 50-day moving average is $47.77 and its 200-day moving average is $40.82. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of -5.25 and a beta of 1.31. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21.

Insider Buying and Selling at Biohaven

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BHVN. nVerses Capital LLC acquired a new position in Biohaven in the 3rd quarter valued at approximately $50,000. Redwood Wealth Management Group LLC acquired a new position in shares of Biohaven in the second quarter valued at $61,000. Values First Advisors Inc. bought a new position in Biohaven in the third quarter worth $78,000. US Bancorp DE lifted its position in Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after purchasing an additional 790 shares during the period. Finally, KBC Group NV boosted its stake in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after buying an additional 443 shares in the last quarter. Institutional investors 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.