Biohaven (NYSE:BHVN) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Biohaven (NYSE:BHVN) in a report released on Monday, Marketbeat.com reports. The brokerage issued a buy rating and a $57.00 price objective on the stock.

A number of other analysts have also commented on the stock. HC Wainwright reissued a buy rating and issued a $59.00 price objective on shares of Biohaven in a research report on Thursday, May 30th. Sanford C. Bernstein began coverage on shares of Biohaven in a research report on Wednesday, September 4th. They set an outperform rating and a $55.00 price target on the stock. Morgan Stanley began coverage on shares of Biohaven in a research report on Wednesday, July 24th. They set an overweight rating and a $58.00 price target on the stock. Cantor Fitzgerald reaffirmed an overweight rating on shares of Biohaven in a research report on Monday, August 19th. Finally, UBS Group dropped their price target on shares of Biohaven from $55.00 to $54.00 and set a buy rating on the stock in a research report on Tuesday, August 13th. Eleven research 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.com, the stock currently has a consensus rating of Buy and an average target price of $54.70.

Biohaven Stock Up 2.5 %

Shares of BHVN stock opened at $40.39 on Monday. The company’s fifty day simple moving average is $38.26 and its 200-day simple moving average is $41.19. The firm has a market cap of $3.57 billion, a PE ratio of -5.91 and a beta of 1.30. Biohaven has a 12 month low of $16.45 and a 12 month high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). On average, equities analysts predict that Biohaven will post -8.92 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John W. Childs acquired 28,400 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the transaction, the director now directly owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after acquiring an additional 4,650,702 shares in the last quarter. Stifel Financial Corp grew its stake in shares of Biohaven by 7.9% in the fourth quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock valued at $266,465,000 after acquiring an additional 456,062 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Biohaven by 6.8% in 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 acquiring an additional 212,699 shares in the last quarter. Point72 Asset Management L.P. grew its stake 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 acquiring an additional 1,458,072 shares in the last quarter. Finally, Farallon Capital Management LLC grew its stake in shares of Biohaven by 181.4% in the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after acquiring an additional 1,449,000 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

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.