Biohaven’s (BHVN) Overweight Rating Reaffirmed at Cantor Fitzgerald

Biohaven (NYSE:BHVN)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research note issued on Tuesday,Benzinga reports.

A number of other equities analysts have also issued reports on the stock. HC Wainwright restated a “buy” rating and set a $59.00 target price on shares of Biohaven in a research report on Tuesday. Bank of America lifted their price objective on shares of Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. 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 objective on the stock. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Robert W. Baird lifted their price objective on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Biohaven currently has a consensus rating of “Buy” and an average target price of $63.00.

Biohaven Stock Up 7.7 %

Biohaven stock opened at $41.44 on Tuesday. Biohaven has a 52-week low of $26.80 and a 52-week high of $62.21. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of -4.43 and a beta of 1.24. The company has a fifty day simple moving average of $48.47 and a 200-day simple moving average of $41.87.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). On average, research analysts anticipate that Biohaven will post -8.85 EPS for the current fiscal year.

Insider Transactions at Biohaven

In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average cost of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This trade represents a 0.31 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Childs bought 21,052 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the transaction, the director now owns 21,052 shares in the company, valued at $999,970. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Several institutional investors and hedge funds have recently made changes to their positions in BHVN. nVerses Capital LLC acquired a new stake in Biohaven in the third quarter worth $50,000. Values First Advisors Inc. acquired a new stake in Biohaven in the third quarter worth $78,000. Redwood Wealth Management Group LLC acquired a new stake in Biohaven in the second quarter worth $61,000. US Bancorp DE increased its position in Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after buying an additional 790 shares during the period. Finally, KBC Group NV increased its position in Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after buying an additional 443 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

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.