Biohaven Ltd. (NYSE:BHVN) Receives $52.00 Average PT from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus recommendation of “Buy” by the eight analysts that are presently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued a report on the stock in the last year is $52.13.

Several brokerages have issued reports on BHVN. JPMorgan Chase & Co. boosted their price objective on shares of Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Biohaven in a research report on Tuesday, April 9th. TD Cowen lifted their price target on Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Thursday, April 18th. Finally, HC Wainwright raised their target price on Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, March 4th.

Biohaven Stock Up 3.3 %

BHVN opened at $39.60 on Friday. Biohaven has a 52 week low of $12.35 and a 52 week high of $62.21. The business has a 50 day moving average price of $51.63 and a two-hundred day moving average price of $41.70. The company has a market cap of $3.24 billion, a PE ratio of -7.00 and a beta of 1.18.

Biohaven (NYSE:BHVN) last released its earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). As a group, sell-side analysts expect that Biohaven will post -5.85 EPS for the current fiscal year.

Insider Activity

In other Biohaven news, CEO Vlad Coric bought 121,951 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was bought at an average price of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the transaction, the chief executive officer now owns 1,788,417 shares in the company, valued at approximately $73,325,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Vlad Coric bought 121,951 shares of the stock in a transaction on Monday, April 22nd. The shares were purchased at an average price of $41.00 per share, for a total transaction of $4,999,991.00. Following the acquisition, the chief executive officer now owns 1,788,417 shares in the company, valued at $73,325,097. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory Bailey purchased 48,780 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was bought at an average cost of $41.00 per share, with a total value of $1,999,980.00. Following the completion of the acquisition, the director now owns 1,574,568 shares of the company’s stock, valued at $64,557,288. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp raised its position in shares of Biohaven by 7.9% in the fourth quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock valued at $266,465,000 after buying an additional 456,062 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Biohaven by 33.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,323 shares of the company’s stock valued at $134,150,000 after acquiring an additional 791,181 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after acquiring an additional 1,458,072 shares during the last quarter. Armistice Capital LLC lifted its stake in shares of Biohaven by 13.1% during the 3rd quarter. Armistice Capital LLC now owns 2,036,000 shares of the company’s stock worth $52,956,000 after purchasing an additional 236,000 shares during the period. Finally, Perceptive Advisors LLC boosted its holdings in shares of Biohaven by 129.4% during the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after purchasing an additional 973,227 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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.