Biohaven Ltd. (NYSE:BHVN – Free Report) – Investment analysts at William Blair dropped their FY2023 EPS estimates for Biohaven in a report released on Wednesday, November 15th. William Blair analyst T. Lugo now expects that the company will earn ($5.31) per share for the year, down from their prior estimate of ($5.03). The consensus estimate for Biohaven’s current full-year earnings is ($4.93) per share. William Blair also issued estimates for Biohaven’s Q4 2023 earnings at ($1.43) EPS, Q1 2024 earnings at ($1.49) EPS, Q2 2024 earnings at ($1.55) EPS, Q3 2024 earnings at ($1.64) EPS, Q4 2024 earnings at ($1.66) EPS and FY2024 earnings at ($6.34) EPS.
Other research analysts have also issued reports about the stock. Piper Sandler raised their target price on shares of Biohaven from $29.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Biohaven from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, August 16th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $27.83.
Biohaven Stock Up 2.1 %
NYSE:BHVN opened at $29.67 on Friday. Biohaven has a 1 year low of $12.35 and a 1 year high of $31.21. The stock’s 50 day simple moving average is $24.87 and its two-hundred day simple moving average is $21.76.
Hedge Funds Weigh In On Biohaven
Several institutional investors have recently bought and sold shares of the business. US Bancorp DE boosted its position in Biohaven by 19.1% during the 1st quarter. US Bancorp DE now owns 586 shares of the company’s stock valued at $70,000 after acquiring an additional 94 shares in the last quarter. Creative Planning lifted its stake in shares of Biohaven by 3.5% during the 3rd quarter. Creative Planning now owns 11,541 shares of the company’s stock worth $300,000 after purchasing an additional 395 shares during the last quarter. Canton Hathaway LLC boosted its position in Biohaven by 2.3% during the third quarter. Canton Hathaway LLC now owns 21,850 shares of the company’s stock valued at $568,000 after purchasing an additional 500 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Biohaven by 4.7% in the third quarter. Teacher Retirement System of Texas now owns 16,486 shares of the company’s stock valued at $429,000 after purchasing an additional 746 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Biohaven by 25.2% in the first quarter. Prudential Financial Inc. now owns 5,580 shares of the company’s stock valued at $662,000 after purchasing an additional 1,122 shares during the last quarter. 89.60% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Biohaven
In related news, CEO Vlad Coric purchased 113,637 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were purchased at an average cost of $22.00 per share, for a total transaction of $2,500,014.00. Following the completion of the acquisition, the chief executive officer now owns 1,657,031 shares in the company, valued at approximately $36,454,682. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Gregory Bailey bought 17,817 shares of the stock in a transaction on Wednesday, October 4th. The stock was acquired at an average cost of $22.57 per share, for a total transaction of $402,129.69. Following the acquisition, the director now owns 1,525,788 shares of the company’s stock, valued at $34,437,035.16. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Vlad Coric purchased 113,637 shares of the business’s stock in a transaction dated Thursday, October 5th. The shares were purchased at an average price of $22.00 per share, for a total transaction of $2,500,014.00. Following the purchase, the chief executive officer now owns 1,657,031 shares of the company’s stock, valued at approximately $36,454,682. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 204,181 shares of company stock worth $4,324,138. 12.40% of the stock is currently owned by insiders.
Biohaven Company Profile
Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing therapies for patients with debilitating neurological and neuropsychiatric diseases in the United States. The company's pipeline products include BHV-7000, a potassium channel activator for the treatment of focal epilepsy; BHV-7010, a Kv7 channel modulator for the treatment of different neurological diseases; Troriluzole, a tripeptide prodrug that is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500, a low-trapping glutamate N-methyl-D-aspartate receptor antagonist for neuropathic pain; and Verdiperstat, an oral myeloperoxidase inhibitor, which is in Phase 3 clinical trial for the treatment of neurodegenerative diseases.
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