Biohaven Ltd. (NYSE:BHVN) Receives $63.15 Consensus Target Price from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have received a consensus recommendation of “Buy” from the fifteen ratings firms that are currently covering the stock, MarketBeat.com reports. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $63.15.

BHVN has been the topic of several research reports. HC Wainwright reissued a “buy” rating and set a $59.00 price target on shares of Biohaven in a research note on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target (up from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Biohaven in a research note on Tuesday, February 11th. They set a “buy” rating and a $65.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Finally, TD Cowen lifted their target price on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 29,000 shares of Biohaven stock in a transaction on Monday, December 30th. The shares were acquired at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the transaction, the director now owns 2,368,741 shares in the company, valued at $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

A number of hedge funds have recently modified their holdings of BHVN. Creative Planning boosted its holdings in shares of Biohaven by 57.9% during the 3rd quarter. Creative Planning now owns 18,209 shares of the company’s stock valued at $910,000 after buying an additional 6,674 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Biohaven during the 3rd quarter valued at $50,000. Cadent Capital Advisors LLC bought a new stake in shares of Biohaven during the 3rd quarter valued at $1,771,000. Values First Advisors Inc. bought a new stake in shares of Biohaven during the 3rd quarter valued at $78,000. Finally, US Bancorp DE boosted its holdings in shares of Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Performance

BHVN stock opened at $39.16 on Friday. The company has a market capitalization of $3.96 billion, a PE ratio of -4.19 and a beta of 1.28. Biohaven has a one year low of $26.80 and a one year high of $62.21. The company’s 50 day moving average price is $38.39 and its two-hundred day moving average price is $42.71.

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.