Biohaven Ltd. (NYSE:BHVN) Receives $61.92 Consensus Price Target from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus rating of “Buy” by the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Thirteen investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $63.42.

Several research analysts recently issued reports on BHVN shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research note on Wednesday, October 23rd. UBS Group cut their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Sanford C. Bernstein boosted their price target on shares of Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Bank of America raised their price objective on shares of Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, HC Wainwright restated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a report on Tuesday, September 24th.

Biohaven Stock Performance

Shares of BHVN opened at $49.08 on Thursday. The firm has a market cap of $4.64 billion, a PE ratio of -5.25 and a beta of 1.31. Biohaven has a 52-week low of $26.80 and a 52-week high of $62.21. The business’s 50 day moving average price is $47.77 and its two-hundred day moving average price is $40.82.

Insider Activity

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

Institutional Trading of Biohaven

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in Biohaven in the 3rd quarter worth approximately $50,000. Values First Advisors Inc. bought a new position in shares of Biohaven in the third quarter worth $78,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Biohaven in the second quarter worth $61,000. US Bancorp DE boosted its stake in Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares during the period. Finally, KBC Group NV increased its stake in Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares during 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.