Biohaven (NYSE:BHVN) Price Target Increased to $60.00 by Analysts at Leerink Partners

Biohaven (NYSE:BHVN) had its price target increased by Leerink Partners from $55.00 to $60.00 in a research report report published on Monday morning, Benzinga reports. Leerink Partners currently has an outperform rating on the stock.

BHVN has been the topic of several other research reports. Jefferies Financial Group began coverage on Biohaven in a research note on Monday, September 16th. They issued a buy rating and a $57.00 target price on the stock. HC Wainwright reissued a buy rating and set a $59.00 price objective on shares of Biohaven in a research note on Thursday, May 30th. Sanford C. Bernstein began coverage on shares of Biohaven in a research note on Wednesday, September 4th. They issued an outperform rating and a $55.00 target price for the company. Morgan Stanley began coverage on shares of Biohaven in a research report on Wednesday, July 24th. They set an overweight rating and a $58.00 price target on the stock. Finally, Royal Bank of Canada reissued an outperform rating and issued a $59.00 price target on shares of Biohaven in a report on Wednesday, September 4th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Biohaven presently has an average rating of Buy and a consensus price target of $60.92.

Biohaven Price Performance

BHVN opened at $51.18 on Monday. Biohaven has a fifty-two week low of $20.80 and a fifty-two week high of $62.21. The company has a market cap of $4.84 billion, a price-to-earnings ratio of -7.49 and a beta of 1.30. The firm has a 50 day simple moving average of $39.23 and a 200 day simple moving average of $40.78.

Biohaven (NYSE:BHVN) last issued its earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92). As a group, analysts expect that Biohaven will post -8.92 EPS for the current year.

Insider Buying and Selling

In other news, Director John W. Childs purchased 28,400 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the purchase, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Biohaven news, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, with a total value of $220,950.00. Following the completion of the transaction, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John W. Childs bought 28,400 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the transaction, the director now owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of large investors have recently modified their holdings of the business. Clearbridge Investments LLC increased its position in shares of Biohaven by 16.9% in the second quarter. Clearbridge Investments LLC now owns 479,369 shares of the company’s stock valued at $16,639,000 after acquiring an additional 69,180 shares during the last quarter. Quarry LP grew its stake in Biohaven by 614.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after purchasing an additional 4,300 shares in the last quarter. Algert Global LLC increased its position in shares of Biohaven by 5.9% during the 2nd quarter. Algert Global LLC now owns 7,402 shares of the company’s stock worth $257,000 after purchasing an additional 412 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Biohaven by 12.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 183,772 shares of the company’s stock worth $6,379,000 after purchasing an additional 20,154 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Biohaven by 234.3% in the 2nd quarter. AQR Capital Management LLC now owns 54,361 shares of the company’s stock valued at $1,887,000 after buying an additional 38,101 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

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.