Biohaven (NYSE:BHVN) Given “Buy” Rating at HC Wainwright

Biohaven (NYSE:BHVN)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They currently have a $59.00 target price on the stock. HC Wainwright’s price target suggests a potential upside of 20.21% from the company’s current price.

A number of other equities analysts have also recently commented on BHVN. JPMorgan Chase & Co. upped their price target on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Morgan Stanley initiated coverage on Biohaven in a research note on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price target for the company. UBS Group dropped their price objective on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. TD Cowen raised their target price on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $63.42.

Biohaven Stock Down 2.5 %

Shares of NYSE BHVN opened at $49.08 on Thursday. Biohaven has a 52-week low of $26.80 and a 52-week high of $62.21. The business has a 50-day moving average price of $47.77 and a 200 day moving average price of $40.82. The stock has a market cap of $4.64 billion, a PE ratio of -5.25 and a beta of 1.31.

Insiders Place Their Bets

In other Biohaven news, Director Gregory Bailey acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Biohaven news, Director John W. Childs acquired 21,052 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares in the company, valued at $999,970. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory Bailey bought 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the purchase, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in shares of Biohaven in the third quarter valued at about $50,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Biohaven during the second quarter valued at approximately $61,000. Values First Advisors Inc. acquired a new position in shares of Biohaven during the third quarter worth $78,000. US Bancorp DE boosted its stake in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after purchasing an additional 790 shares during the period. Finally, KBC Group NV lifted its holdings in Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

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.