Biohaven Ltd. (NYSE:BHVN) Receives $63.00 Average Price Target from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have been assigned an average rating of “Buy” from the fourteen analysts that are presently covering the stock, Marketbeat reports. Thirteen analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $63.00.

Several brokerages recently issued reports on BHVN. HC Wainwright reiterated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research report on Tuesday, December 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. JPMorgan Chase & Co. boosted their price objective on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, TD Cowen raised their target price on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Insider Buying and Selling

In other news, Director John W. Childs bought 29,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the acquisition, the director now owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. This 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 can be accessed through the SEC website. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biohaven

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Algert Global LLC lifted its holdings in Biohaven by 5.9% in the second quarter. Algert Global LLC now owns 7,402 shares of the company’s stock valued at $257,000 after acquiring an additional 412 shares during the period. Franklin Resources Inc. raised its stake in Biohaven by 0.5% during the 3rd quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock worth $4,206,000 after acquiring an additional 412 shares during the period. KBC Group NV raised its stake in Biohaven by 24.5% during 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 period. Hsbc Holdings PLC lifted its stake in shares of Biohaven by 6.1% during the 2nd quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock valued at $286,000 after buying an additional 480 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares during the period. Institutional investors own 88.78% of the company’s stock.

Biohaven Trading Down 3.3 %

Shares of Biohaven stock opened at $39.36 on Tuesday. The company’s 50-day moving average price is $40.37 and its 200-day moving average price is $42.49. Biohaven has a 12-month low of $26.80 and a 12-month high of $62.21. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -4.21 and a beta of 1.29.

Biohaven (NYSE:BHVN) last posted its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, sell-side analysts predict that Biohaven will post -8.85 earnings per share for the current year.

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.