Biohaven Ltd. (NYSE:BHVN) Receives Average Recommendation of “Buy” from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus recommendation of “Buy” by the fifteen brokerages that are covering the company, Marketbeat Ratings reports. Fourteen equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $62.54.

BHVN has been the subject of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley decreased their price objective on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Robert W. Baird reduced their price target on Biohaven from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a report on Tuesday, March 4th.

Biohaven Stock Up 1.2 %

Biohaven stock opened at $22.14 on Thursday. The company’s 50-day moving average price is $25.44 and its 200-day moving average price is $36.98. The company has a market cap of $2.26 billion, a PE ratio of -2.37 and a beta of 1.33. Biohaven has a twelve month low of $15.79 and a twelve month high of $55.70.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, sell-side analysts expect that Biohaven will post -8.9 earnings per share for the current fiscal year.

Insider Activity

In other Biohaven news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $30.47 per share, with a total value of $996,369.00. Following the completion of the purchase, the director now directly owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BHVN. Teacher Retirement System of Texas raised its holdings in Biohaven by 31.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company’s stock worth $871,000 after purchasing an additional 5,600 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Biohaven by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company’s stock valued at $11,021,000 after buying an additional 24,703 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Biohaven by 85.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock valued at $40,448,000 after purchasing an additional 372,737 shares during the last quarter. American Century Companies Inc. boosted its stake in Biohaven by 9.5% in the 4th quarter. American Century Companies Inc. now owns 558,761 shares of the company’s stock worth $20,870,000 after purchasing an additional 48,286 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Biohaven by 6.6% in the 4th quarter. Alliancebernstein L.P. now owns 96,236 shares of the company’s stock worth $3,594,000 after purchasing an additional 5,951 shares in the last quarter. 88.78% of the stock is owned by institutional investors.

Biohaven Company Profile

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.