Cantor Fitzgerald Reiterates Overweight Rating for Biohaven (NYSE:BHVN)

Biohaven (NYSE:BHVN)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research report issued on Thursday, Benzinga reports.

BHVN has been the subject of a number of other reports. UBS Group started coverage on shares of Biohaven in a report on Tuesday, February 6th. They issued a “buy” rating and a $59.00 target price for the company. HC Wainwright boosted their target price on shares of Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective 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. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a research note on Tuesday, April 9th. Finally, TD Cowen boosted their price objective 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. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $52.00.

Biohaven Price Performance

BHVN traded down $2.77 during midday trading on Thursday, reaching $41.26. 1,070,529 shares of the company’s stock were exchanged, compared to its average volume of 1,180,317. The stock has a market capitalization of $3.37 billion, a PE ratio of -7.30 and a beta of 1.18. The business’s 50-day moving average price is $52.13 and its 200 day moving average price is $41.23. Biohaven has a 1-year low of $12.35 and a 1-year high of $62.21.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). As a group, analysts expect that Biohaven will post -5.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Biohaven

Large investors have recently bought and sold shares of the business. US Bancorp DE lifted its holdings in Biohaven by 19.1% in the first quarter. US Bancorp DE now owns 586 shares of the company’s stock worth $70,000 after acquiring an additional 94 shares during the last quarter. KBC Group NV bought a new position in Biohaven in the fourth quarter worth about $74,000. Advisor Group Holdings Inc. lifted its holdings in Biohaven by 219.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 8,606 shares of the company’s stock worth $120,000 after acquiring an additional 5,915 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Biohaven during the first quarter valued at approximately $143,000. Finally, Creative Planning bought a new stake in shares of Biohaven during the fourth quarter valued at approximately $147,000. Institutional investors own 88.78% of the company’s stock.

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.