Biohaven (NYSE:BHVN) Price Target Raised to $66.00

Biohaven (NYSE:BHVN) had its price objective boosted by Sanford C. Bernstein from $55.00 to $66.00 in a research note issued to investors on Tuesday, Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the stock.

BHVN has been the topic of a number of other research reports. HC Wainwright restated a buy rating and issued a $59.00 price target on shares of Biohaven in a research report on Tuesday. Leerink Partners boosted their price target on shares of Biohaven from $55.00 to $60.00 and gave the stock an outperform rating in a research report on Monday. Cantor Fitzgerald restated an overweight rating on shares of Biohaven in a research report on Tuesday. Jefferies Financial Group assumed coverage on shares of Biohaven in a research report on Monday, September 16th. They issued a buy rating and a $57.00 price target on the stock. Finally, William Blair upgraded shares of Biohaven to a strong-buy rating in a research report on Friday, August 30th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Biohaven currently has an average rating of Buy and a consensus price target of $60.92.

Biohaven Price Performance

NYSE:BHVN opened at $51.18 on Tuesday. The firm’s 50 day simple moving average is $39.23 and its 200 day simple moving average is $40.78. Biohaven has a one year low of $20.80 and a one year high of $62.21. The company has a market cap of $4.84 billion, a PE ratio of -7.49 and a beta of 1.30.

Biohaven (NYSE:BHVN) last posted its earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Equities research analysts expect that Biohaven will post -8.92 EPS for the current year.

Insider Buying and Selling at Biohaven

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

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Biohaven by 280.5% during the first 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 during the period. Stifel Financial Corp grew its position 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 buying an additional 456,062 shares during the period. 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 during the last quarter. Point72 Asset Management L.P. lifted its holdings in Biohaven by 142.2% during 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 last quarter. Finally, Farallon Capital Management LLC lifted its holdings in Biohaven by 181.4% during the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after purchasing an additional 1,449,000 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

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.