Piper Sandler Boosts Biohaven (NYSE:BHVN) Price Target to $36.00

Biohaven (NYSE:BHVN) had its price target upped by Piper Sandler from $29.00 to $36.00 in a report issued on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Separately, JPMorgan Chase & Co. cut their target price on shares of Biohaven from $27.00 to $24.00 and set an overweight rating on the stock in a research report on Wednesday, August 16th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $27.83.

Biohaven Price Performance

BHVN stock opened at $30.11 on Wednesday. The company has a market capitalization of $2.42 billion, a PE ratio of -4.20 and a beta of 0.97. Biohaven has a 12 month low of $12.35 and a 12 month high of $31.21. The firm’s 50-day moving average is $25.10 and its 200 day moving average is $21.87.

Insider Buying and Selling at Biohaven

In other news, Director Gregory Bailey purchased 17,817 shares of the stock in a transaction dated Wednesday, October 4th. The shares were 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 legal filing with the SEC, which is available through this hyperlink. In other news, Director Gregory Bailey bought 17,817 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was bought at an average price of $22.57 per share, with a total value of $402,129.69. Following the completion of the transaction, the director now directly owns 1,525,788 shares of the company’s stock, valued at approximately $34,437,035.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Buten bought 22,727 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were purchased at an average cost of $22.00 per share, with a total value of $499,994.00. Following the transaction, the chief financial officer now directly owns 189,380 shares of the company’s stock, valued at $4,166,360. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 204,181 shares of company stock valued at $4,324,138. Company insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Hedge funds and other institutional investors have recently bought and sold shares of the company. Armistice Capital LLC lifted its position in Biohaven by 14.7% during the first quarter. Armistice Capital LLC now owns 3,124,000 shares of the company’s stock valued at $42,674,000 after acquiring an additional 400,000 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Biohaven in the second quarter worth $579,000. Compass Financial Advisors LLC purchased a new position in shares of Biohaven in the first quarter worth $239,000. Raymond James & Associates purchased a new position in shares of Biohaven in the second quarter worth $322,000. Finally, Harvest Management LLC raised its holdings in shares of Biohaven by 20.1% in the second quarter. Harvest Management LLC now owns 16,100 shares of the company’s stock worth $385,000 after buying an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 89.60% of the company’s stock.

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.