Biohaven (NYSE:BHVN) Research Coverage Started at Sanford C. Bernstein

Sanford C. Bernstein began coverage on shares of Biohaven (NYSE:BHVN) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $55.00 target price on the stock.

A number of other analysts have also issued reports on BHVN. Morgan Stanley started coverage on Biohaven in a research note on Wednesday, July 24th. They issued an overweight rating and a $58.00 price target on the stock. HC Wainwright reaffirmed a buy rating and set a $59.00 target price on shares of Biohaven in a report on Thursday, May 30th. Royal Bank of Canada reiterated an outperform rating and issued a $59.00 target price on shares of Biohaven in a research report on Tuesday, June 18th. UBS Group lowered 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. Finally, Cantor Fitzgerald reissued an overweight rating on shares of Biohaven in a research note on Monday, August 19th. Ten research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $54.44.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $36.90 on Wednesday. The firm has a fifty day moving average of $37.81 and a 200 day moving average of $41.79. The firm has a market cap of $3.26 billion, a PE ratio of -5.40 and a beta of 1.30. Biohaven has a one year low of $16.45 and a one year high of $62.21.

Biohaven (NYSE:BHVN) last released its earnings results 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 EPS for the current fiscal year.

Insider Buying and Selling at Biohaven

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

Institutional Trading of Biohaven

Institutional investors have recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC purchased a new position in shares of Biohaven during the second quarter worth $61,000. Elkhorn Partners Limited Partnership acquired a new position in Biohaven in the 2nd quarter valued at about $125,000. Quarry LP increased its stake in Biohaven by 614.3% during the second quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $174,000 after purchasing an additional 4,300 shares during the period. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Biohaven during the fourth quarter worth about $230,000. Finally, Private Advisor Group LLC purchased a new stake in Biohaven during the 4th quarter worth approximately $231,000. Institutional investors and hedge funds own 88.78% of the company’s stock.

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.