Biohaven Ltd. (NYSE:BHVN) Receives Consensus Rating of “Buy” from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus rating of “Buy” by the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $63.15.

Several research analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley cut their price target 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. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Biohaven in a research note on Tuesday, February 11th. They set a “buy” rating and a $65.00 price target for the company.

Biohaven Stock Down 2.7 %

BHVN stock opened at $28.86 on Wednesday. Biohaven has a twelve month low of $26.80 and a twelve month high of $60.46. The company has a market cap of $2.95 billion, a PE ratio of -3.09 and a beta of 1.27. The business’s 50-day simple moving average is $36.48 and its 200 day simple moving average is $41.87.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29). On average, equities research analysts anticipate that Biohaven will post -8.9 EPS for the current year.

Insider Transactions at Biohaven

In related news, Director John W. Childs acquired 29,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the acquisition, the director now directly owns 2,368,741 shares in the company, valued at $85,132,551.54. The trade was a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Hedge funds have recently modified their holdings of the stock. US Bancorp DE boosted its position in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock valued at $156,000 after acquiring an additional 500 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Biohaven by 67.1% in the third quarter. Victory Capital Management Inc. now owns 363,615 shares of the company’s stock valued at $18,170,000 after acquiring an additional 145,960 shares during the last quarter. KBC Group NV boosted its holdings in Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Biohaven in the third quarter valued at about $565,000. 88.78% of the stock is owned by 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.