HC Wainwright Reiterates “Buy” Rating for Biohaven (NYSE:BHVN)

Biohaven (NYSE:BHVN)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued on Thursday,Benzinga reports. They presently have a $59.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 32.97% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada lowered their price objective on Biohaven from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday. TD Cowen boosted their price target on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America increased their price objective on shares of Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Sanford C. Bernstein upped their target price on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird raised their target price on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $63.42.

Biohaven Trading Down 8.8 %

Biohaven stock opened at $44.37 on Thursday. Biohaven has a 12-month low of $26.80 and a 12-month high of $62.21. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of -4.75 and a beta of 1.31. The firm has a 50 day moving average of $48.16 and a 200 day moving average of $40.91.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, analysts predict that Biohaven will post -8.81 EPS for the current year.

Insider Activity

In related news, Director Gregory Bailey acquired 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The shares were bought at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the purchase, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The trade was a 0.31 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John W. Childs acquired 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Biohaven during the 1st quarter valued at about $644,000. Swiss National Bank raised its holdings in shares of Biohaven by 6.3% in the first quarter. Swiss National Bank now owns 142,500 shares of the company’s stock worth $7,793,000 after buying an additional 8,400 shares during the period. Sei Investments Co. lifted its stake in shares of Biohaven by 25.4% during the 1st quarter. Sei Investments Co. now owns 18,440 shares of the company’s stock worth $1,008,000 after acquiring an additional 3,730 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Biohaven by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 12,291 shares of the company’s stock valued at $672,000 after acquiring an additional 967 shares during the period. Finally, Lord Abbett & CO. LLC bought a new position in Biohaven in the 1st quarter valued at $7,276,000. Hedge funds and other 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.