Biohaven Ltd. (NYSE:BHVN) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have been assigned a consensus rating of “Buy” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Thirteen investment 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 target among brokers that have issued ratings on the stock in the last year is $63.00.

Several equities analysts have issued reports on BHVN shares. TD Cowen boosted their price objective on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein boosted their price target on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. raised their price objective on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. HC Wainwright reiterated a “buy” rating and set a $59.00 target price on shares of Biohaven in a research report on Tuesday, December 17th. Finally, Bank of America raised 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.

Biohaven Stock Performance

Shares of BHVN opened at $37.28 on Friday. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The firm has a 50-day simple moving average of $44.41 and a 200-day simple moving average of $41.98. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -3.99 and a beta of 1.24.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Equities research analysts forecast that Biohaven will post -8.85 EPS for the current year.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 29,000 shares of the stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the transaction, the director now directly owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Biohaven in the third quarter worth $50,000. Redwood Wealth Management Group LLC purchased a new stake in Biohaven during the 2nd quarter worth about $61,000. Values First Advisors Inc. acquired a new position in Biohaven in the 3rd quarter valued at about $78,000. US Bancorp DE lifted its holdings in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after purchasing an additional 790 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after purchasing an additional 443 shares during the last quarter. Hedge funds and other 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.