Biohaven Ltd. (NYSE:BHVN) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $55.13.

A number of research firms have recently commented on BHVN. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price objective on shares of Biohaven in a report on Thursday, May 30th. UBS Group raised their price objective on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $59.00 target price on shares of Biohaven in a research report on Tuesday, June 18th. Morgan Stanley began coverage on shares of Biohaven in a research report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price objective for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Thursday, May 30th.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs bought 28,500 shares of Biohaven stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $35.17 per share, for a total transaction of $1,002,345.00. Following the completion of the acquisition, the director now owns 2,283,341 shares of the company’s stock, valued at approximately $80,305,102.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John W. Childs purchased 28,500 shares of the company’s stock in a transaction on Monday, May 13th. The shares were purchased at an average cost of $35.17 per share, with a total value of $1,002,345.00. Following the completion of the transaction, the director now owns 2,283,341 shares of the company’s stock, valued at approximately $80,305,102.97. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John W. Childs purchased 28,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of $35.58 per share, for a total transaction of $996,240.00. Following the completion of the transaction, the director now directly owns 2,311,341 shares of the company’s stock, valued at approximately $82,237,512.78. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 84,900 shares of company stock worth $3,011,613. 16.00% of the stock is owned by insiders.

Institutional Trading of Biohaven

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 purchasing an additional 4,650,702 shares during the period. Darwin Global Management Ltd. bought a new position in shares of Biohaven in the first quarter valued at about $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 purchasing an additional 1,458,072 shares during the period. Bellevue Group AG bought a new position in shares of Biohaven in the fourth quarter valued at about $46,010,000. Finally, Perceptive Advisors LLC increased its position in Biohaven by 129.4% during the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after acquiring an additional 973,227 shares during the period. 88.78% of the stock is owned by institutional investors.

Biohaven Price Performance

Shares of Biohaven stock opened at $34.23 on Tuesday. Biohaven has a fifty-two week low of $16.45 and a fifty-two week high of $62.21. The firm has a fifty day moving average price of $35.57 and a two-hundred day moving average price of $43.04. The company has a market cap of $3.02 billion, a PE ratio of -5.01 and a beta of 1.32.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($2.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.70). Analysts expect that Biohaven will post -7.09 earnings per share 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.