Biohaven (NYSE:BHVN) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Biohaven (NYSE:BHVNFree Report) in a report published on Thursday, Benzinga reports. HC Wainwright currently has a $59.00 target price on the stock.

A number of other research firms have also commented on BHVN. UBS Group lifted their price objective on shares of Biohaven from $59.00 to $60.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. TD Cowen boosted their price target on shares of Biohaven from $35.00 to $55.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Royal Bank of Canada reiterated an outperform rating and set a $61.00 price target on shares of Biohaven in a research note on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of Biohaven from $32.00 to $56.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of Biohaven in a research note on Thursday. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $51.63.

Read Our Latest Stock Report on Biohaven

Biohaven Price Performance

Shares of NYSE:BHVN opened at $35.10 on Thursday. The company’s fifty day moving average price is $43.17 and its 200 day moving average price is $43.71. Biohaven has a 12 month low of $15.56 and a 12 month high of $62.21. The firm has a market capitalization of $3.10 billion, a P/E ratio of -5.14 and a beta of 1.26.

Biohaven (NYSE:BHVNGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($2.20) EPS for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.70). On average, sell-side analysts anticipate that Biohaven will post -7.16 EPS for the current year.

Insider Buying and Selling

In other Biohaven news, CEO Vlad Coric purchased 121,951 shares of Biohaven stock in a transaction on Monday, April 22nd. The shares were bought at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Biohaven news, Director Gregory Bailey purchased 48,780 shares of Biohaven stock in a transaction on Monday, April 22nd. The shares were bought at an average price of $41.00 per share, with a total value of $1,999,980.00. Following the completion of the acquisition, the director now directly owns 1,574,568 shares of the company’s stock, valued at $64,557,288. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vlad Coric acquired 121,951 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the transaction, the chief executive officer now owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 252,734 shares of company stock valued at $9,997,764. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of institutional investors have recently modified their holdings of BHVN. Vanguard Group Inc. raised its position in shares of Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after buying an additional 4,650,702 shares during the last quarter. Darwin Global Management Ltd. acquired a new position in shares of Biohaven in the first quarter valued at approximately $80,776,000. Point72 Asset Management L.P. raised its position in shares of Biohaven by 142.2% in the fourth quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after buying an additional 1,458,072 shares during the last quarter. Bellevue Group AG acquired a new position in shares of Biohaven in the fourth quarter valued at approximately $46,010,000. Finally, Perceptive Advisors LLC raised its position in shares of Biohaven by 129.4% in the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock valued at $73,832,000 after buying an additional 973,227 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Biohaven (NYSE:BHVN)

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