Biohaven (NYSE:BHVN) Price Target Raised to $60.00 at Robert W. Baird

Biohaven (NYSE:BHVN) had its target price increased by Robert W. Baird from $58.00 to $60.00 in a research report released on Monday, Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Morgan Stanley assumed coverage on Biohaven in a research report on Wednesday, July 24th. They set an overweight rating and a $58.00 price target on the stock. Jefferies Financial Group began coverage on Biohaven in a research note on Monday, September 16th. They issued a buy rating and a $57.00 price target for the company. William Blair raised Biohaven to a strong-buy rating in a report on Friday, August 30th. Cantor Fitzgerald restated an overweight rating on shares of Biohaven in a report on Monday, August 19th. Finally, Sanford C. Bernstein assumed coverage on shares of Biohaven in a research note on Wednesday, September 4th. They issued an outperform rating and a $55.00 target price for the company. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Buy and an average target price of $60.92.

Biohaven Price Performance

BHVN opened at $51.18 on Monday. The firm has a market capitalization of $4.84 billion, a PE ratio of -7.49 and a beta of 1.30. The business’s 50-day moving average is $39.23 and its two-hundred day moving average is $40.78. Biohaven has a 1 year low of $20.80 and a 1 year high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). As a group, sell-side analysts expect that Biohaven will post -8.92 EPS for the current year.

Insider Transactions at Biohaven

In related news, Director John W. Childs purchased 28,400 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the acquisition, the director now owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Childs purchased 28,400 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the purchase, the director now owns 2,339,741 shares in the company, valued at $83,458,561.47. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Biohaven by 280.5% during the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after buying an additional 4,650,702 shares in the last quarter. Stifel Financial Corp lifted its holdings in Biohaven by 7.9% during the fourth quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock valued at $266,465,000 after purchasing an additional 456,062 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Biohaven by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock valued at $183,050,000 after purchasing an additional 212,699 shares in the last quarter. Point72 Asset Management L.P. grew its position in shares of Biohaven by 142.2% in the fourth quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after purchasing an additional 1,458,072 shares during the period. Finally, Farallon Capital Management LLC increased its stake in shares of Biohaven by 181.4% during the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock worth $78,028,000 after purchasing an additional 1,449,000 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

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.