Biohaven’s (BHVN) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Biohaven (NYSE:BHVN) in a research note published on Tuesday,Benzinga reports. HC Wainwright currently has a $54.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on BHVN. TD Cowen increased their target price on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Biohaven in a report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on Biohaven in a report on Tuesday, February 11th. They set a “buy” rating and a $65.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $62.77.

Biohaven Trading Down 1.9 %

Shares of Biohaven stock opened at $30.37 on Tuesday. The stock’s fifty day simple moving average is $37.98 and its 200 day simple moving average is $42.58. The company has a market capitalization of $3.07 billion, a PE ratio of -3.25 and a beta of 1.27. Biohaven has a 12 month low of $26.80 and a 12 month high of $62.21.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). Analysts predict that Biohaven will post -8.9 EPS for the current fiscal year.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs purchased 32,700 shares of Biohaven stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the acquisition, the director now owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This trade represents a 1.43 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 16.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biohaven

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Biohaven by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after purchasing an additional 628,211 shares during the period. Janus Henderson Group PLC grew its holdings in Biohaven by 12.1% during the fourth 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. Stifel Financial Corp grew its holdings in Biohaven by 0.8% during the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company’s stock worth $244,990,000 after purchasing an additional 50,052 shares during the period. Suvretta Capital Management LLC grew its holdings in Biohaven by 8.1% during the fourth quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company’s stock worth $209,917,000 after purchasing an additional 421,052 shares during the period. Finally, Farallon Capital Management LLC lifted its position in Biohaven by 21.6% during the fourth quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company’s stock worth $165,392,000 after acquiring an additional 785,578 shares during the last quarter. 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.