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Biohaven Ltd. (NYSE:BHVN – Get Rating) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $88.05.
BHVN has been the topic of a number of recent analyst reports. Cowen dropped their price objective on Biohaven to $25.00 in a research note on Monday, November 7th. Piper Sandler lowered their price target on Biohaven from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. BTIG Research initiated coverage on Biohaven in a research note on Friday, December 2nd. They set a “buy” rating and a $24.00 price target on the stock. Cantor Fitzgerald raised Biohaven from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $158.00 to $27.00 in a report on Wednesday, October 26th. Finally, Cowen set a $25.00 target price on Biohaven in a report on Monday, November 7th.
Biohaven Trading Up 1.8 %
BHVN opened at $15.09 on Friday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -1.08 and a beta of 1.01. Biohaven has a 1 year low of $5.54 and a 1 year high of $17.86. The stock has a fifty day moving average price of $14.59 and a 200 day moving average price of $97.15.
Biohaven (NYSE:BHVN – Get Rating) last posted its earnings results on Wednesday, November 9th. The company reported ($1.75) earnings per share for the quarter, beating the consensus estimate of ($2.53) by $0.78. As a group, sell-side analysts forecast that Biohaven will post -11.54 earnings per share for the current fiscal year.
Insider Activity at Biohaven
In related news, Director Gregory Bailey purchased 200,000 shares of the stock in a transaction on Tuesday, October 25th. The shares were purchased at an average cost of $10.50 per share, with a total value of $2,100,000.00. Following the acquisition, the director now directly owns 1,507,971 shares in the company, valued at $15,833,695.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Biohaven news, Director Gregory Bailey bought 200,000 shares of the stock in a transaction dated Tuesday, October 25th. The shares were bought at an average cost of $10.50 per share, with a total value of $2,100,000.00. Following the completion of the acquisition, the director now owns 1,507,971 shares of the company’s stock, valued at $15,833,695.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew Buten acquired 142,857 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The stock was purchased at an average cost of $10.50 per share, for a total transaction of $1,499,998.50. Following the completion of the purchase, the chief financial officer now directly owns 166,653 shares of the company’s stock, valued at $1,749,856.50. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,263,967 shares of company stock worth $13,596,014. Insiders own 12.40% of the company’s stock.
Hedge Funds Weigh In On Biohaven
A number of hedge funds have recently modified their holdings of BHVN. EverSource Wealth Advisors LLC raised its stake in Biohaven by 311.8% during the second quarter. EverSource Wealth Advisors LLC now owns 280 shares of the company’s stock worth $41,000 after buying an additional 212 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Biohaven in the second quarter valued at $59,000. JBF Capital Inc. bought a new stake in Biohaven in the third quarter valued at $63,000. US Bancorp DE increased its stake in Biohaven by 19.1% in the first quarter. US Bancorp DE now owns 586 shares of the company’s stock valued at $70,000 after purchasing an additional 94 shares in the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Biohaven by 151.6% in the second quarter. Exchange Traded Concepts LLC now owns 536 shares of the company’s stock valued at $78,000 after purchasing an additional 323 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.
Biohaven Company Profile
(Get Rating)
Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering and developing therapies for patients with debilitating neurological and neuropsychiatric diseases in the United States. The company's pipeline products include BHV-7000, a potassium channel activator for the treatment of focal epilepsy; Troriluzole, a tripeptide prodrug that is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500, a low-trapping glutamate N-methyl-D-aspartate receptor antagonist for neuropathic pain; and Verdiperstat, an irreversible myeloperoxidase enzyme inhibitor for the treatment of neurodegenerative diseases.
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