Deutsche Bank Aktiengesellschaft Initiates Coverage on Biohaven (NYSE:BHVN)

Research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Biohaven (NYSE:BHVN) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $65.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 69.95% from the stock’s previous close.

Several other research firms have also weighed in on BHVN. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective (up previously from $58.00) on shares of Biohaven in a research report on Wednesday, December 4th. TD Cowen upped their price objective on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research report on Tuesday, December 17th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $63.15.

Biohaven Price Performance

Shares of BHVN opened at $38.25 on Tuesday. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of -4.09 and a beta of 1.28. Biohaven has a 1 year low of $26.80 and a 1 year high of $62.21. The business’s 50 day simple moving average is $38.77 and its 200-day simple moving average is $42.62.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, sell-side analysts expect that Biohaven will post -8.9 earnings per share for the current year.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs purchased 29,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was bought at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the purchase, the director now owns 2,368,741 shares in the company, valued at $85,132,551.54. This represents a 1.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BHVN. Exchange Traded Concepts LLC raised its stake in shares of Biohaven by 15.9% in the third quarter. Exchange Traded Concepts LLC now owns 19,893 shares of the company’s stock worth $994,000 after purchasing an additional 2,728 shares during the last quarter. Creative Planning grew its holdings in Biohaven by 57.9% during the third quarter. Creative Planning now owns 18,209 shares of the company’s stock worth $910,000 after acquiring an additional 6,674 shares during the period. nVerses Capital LLC acquired a new stake in Biohaven during the third quarter worth about $50,000. Cadent Capital Advisors LLC acquired a new stake in Biohaven during the third quarter worth about $1,771,000. Finally, Values First Advisors Inc. acquired a new stake in Biohaven during the third quarter worth about $78,000. 88.78% of the stock is currently owned by hedge funds and other 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.