Biohaven Ltd. (NYSE:BHVN) Receives $63.15 Average PT from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have earned an average rating of “Buy” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Fourteen research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $63.15.

Several analysts have commented on BHVN shares. Deutsche Bank Aktiengesellschaft started 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. JPMorgan Chase & Co. reduced their target price on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. HC Wainwright restated a “buy” rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th.

Insider Activity at Biohaven

In related news, Director John W. Childs bought 29,000 shares of the company’s stock in a transaction on 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 purchase, the director now directly owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. The trade was a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 16.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently added to or reduced their stakes in BHVN. Point72 Asset Management L.P. grew its stake in Biohaven by 745.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock worth $74,969,000 after acquiring an additional 1,322,922 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Biohaven by 144.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company’s stock worth $73,922,000 after acquiring an additional 1,169,721 shares in the last quarter. Norges Bank purchased a new stake in shares of Biohaven in the 4th quarter worth approximately $33,711,000. Farallon Capital Management LLC lifted its position in shares of Biohaven by 21.6% in the 4th quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company’s stock worth $165,392,000 after purchasing an additional 785,578 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Biohaven by 12.1% in the 4th quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company’s stock worth $260,735,000 after purchasing an additional 756,032 shares during the period. 88.78% of the stock is currently owned by institutional investors.

Biohaven Stock Up 3.6 %

Shares of BHVN stock opened at $29.24 on Wednesday. The stock has a market cap of $2.98 billion, a P/E ratio of -3.13 and a beta of 1.27. Biohaven has a 52 week low of $26.80 and a 52 week high of $60.46. The company’s fifty day simple moving average is $36.87 and its two-hundred day simple moving average is $42.01.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.29). On average, analysts anticipate that Biohaven will post -8.9 EPS for the current fiscal year.

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.