Brokerages Set Biohaven Ltd. (NYSE:BHVN) Price Target at $61.92

Shares of Biohaven Ltd. (NYSE:BHVN) have been given an average rating of “Buy” by the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $61.92.

Several equities research analysts have issued reports on the stock. Robert W. Baird boosted their price objective on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. HC Wainwright reissued a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research report on Tuesday, September 24th. William Blair upgraded Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. UBS Group reduced their price target on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upped their price target on Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd.

Biohaven Trading Up 2.6 %

Shares of Biohaven stock opened at $52.96 on Friday. The business’s fifty day moving average price is $43.48 and its 200 day moving average price is $40.17. Biohaven has a twelve month low of $25.97 and a twelve month high of $62.21. The stock has a market capitalization of $4.68 billion, a P/E ratio of -7.75 and a beta of 1.31.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($1.92). As a group, sell-side analysts predict that Biohaven will post -8.82 EPS for the current year.

Insider Activity at Biohaven

In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of $44.19 per share, with a total value of $220,950.00. Following the completion of the acquisition, the director now directly owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director John W. Childs bought 21,052 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the transaction, the director now directly owns 21,052 shares of the company’s stock, valued at approximately $999,970. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake 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. Price T Rowe Associates Inc. MD raised its stake in Biohaven by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock valued at $183,050,000 after acquiring an additional 212,699 shares in the last quarter. Farallon Capital Management LLC raised its stake in Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after acquiring an additional 1,449,000 shares in the last quarter. Darwin Global Management Ltd. acquired a new position in Biohaven during the 1st quarter worth $80,776,000. Finally, Armistice Capital LLC grew its stake in shares of Biohaven by 74.8% in the second quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock worth $48,489,000 after purchasing an additional 597,705 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Biohaven Company Profile

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.