UBS Group Increases Biohaven (NYSE:BHVN) Price Target to $60.00

Biohaven (NYSE:BHVN) had its price target increased by investment analysts at UBS Group from $59.00 to $60.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 55.04% from the stock’s current price.

Several other equities analysts have also weighed in on the company. HC Wainwright increased their price objective on Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, March 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Thursday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a report on Tuesday, April 9th. JPMorgan Chase & Co. lifted their target price on shares of Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, TD Cowen boosted their price target on shares of Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $52.13.

Biohaven Price Performance

NYSE BHVN opened at $38.70 on Tuesday. The business’s fifty day moving average is $51.49 and its 200-day moving average is $41.81. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -6.84 and a beta of 1.18. Biohaven has a one year low of $12.35 and a one year high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.40). Research analysts expect that Biohaven will post -5.85 EPS for the current fiscal year.

Insider Buying and Selling at Biohaven

In other news, CEO Vlad Coric purchased 121,951 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now owns 1,788,417 shares in the company, valued at approximately $73,325,097. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Vlad Coric purchased 121,951 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was acquired at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the purchase, the chief executive officer now directly owns 1,788,417 shares in the company, valued at $73,325,097. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Bailey bought 48,780 shares of Biohaven stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the purchase, 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. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Large investors have recently bought and sold shares of the stock. Simon Quick Advisors LLC boosted its stake in shares of Biohaven by 36.3% during the fourth quarter. Simon Quick Advisors LLC now owns 74,968 shares of the company’s stock valued at $3,209,000 after purchasing an additional 19,968 shares during the period. Citigroup Inc. increased its position in shares of Biohaven by 97.9% in the third quarter. Citigroup Inc. now owns 146,907 shares of the company’s stock valued at $3,821,000 after acquiring an additional 72,673 shares during the period. Legato Capital Management LLC purchased a new position in Biohaven during the 4th quarter valued at about $469,000. Monashee Investment Management LLC raised its position in Biohaven by 80.0% during the 3rd quarter. Monashee Investment Management LLC now owns 90,000 shares of the company’s stock valued at $2,341,000 after purchasing an additional 40,000 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Biohaven in the 3rd quarter worth approximately $923,000. 88.78% of the stock is 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.