Biohaven (NYSE:BHVN) Price Target Raised to $60.00

Biohaven (NYSE:BHVN) had its target price boosted by analysts at UBS Group from $59.00 to $60.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective suggests a potential upside of 48.40% from the company’s previous close.

Several other research analysts also recently issued reports on the company. TD Cowen lifted their price objective on Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. lifted their price objective on Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. HC Wainwright lifted their price objective on Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Thursday, April 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a report on Tuesday, April 9th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $52.13.

Biohaven Trading Up 5.5 %

Shares of NYSE BHVN traded up $2.10 during midday trading on Tuesday, reaching $40.43. 934,875 shares of the company were exchanged, compared to its average volume of 1,238,368. Biohaven has a 1 year low of $12.35 and a 1 year high of $62.21. The stock has a fifty day simple moving average of $51.63 and a 200 day simple moving average of $41.70. The stock has a market cap of $3.31 billion, a P/E ratio of -7.22 and a beta of 1.18.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). As a group, analysts forecast that Biohaven will post -5.85 earnings per share for the current year.

Insider Activity at Biohaven

In other news, Director Gregory Bailey acquired 48,780 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was bought at an average cost of $41.00 per share, with a total value of $1,999,980.00. Following the transaction, the director now directly owns 1,574,568 shares in the company, valued at approximately $64,557,288. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Vlad Coric purchased 121,951 shares of Biohaven stock in a transaction dated Monday, April 22nd. The shares were acquired at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the transaction, the chief executive officer now owns 1,788,417 shares of the company’s stock, valued at approximately $73,325,097. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gregory Bailey purchased 48,780 shares of Biohaven stock in a transaction dated Monday, April 22nd. The shares were bought at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the transaction, the director now directly owns 1,574,568 shares of the company’s stock, valued at approximately $64,557,288. The disclosure for this purchase can be found here. 16.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Biohaven

Large investors have recently modified their holdings of the stock. Simon Quick Advisors LLC lifted its position in shares of Biohaven by 36.3% during the fourth quarter. Simon Quick Advisors LLC now owns 74,968 shares of the company’s stock worth $3,209,000 after purchasing an additional 19,968 shares during the last quarter. Citigroup Inc. lifted its holdings in Biohaven by 97.9% in the third quarter. Citigroup Inc. now owns 146,907 shares of the company’s stock worth $3,821,000 after acquiring an additional 72,673 shares during the last quarter. Legato Capital Management LLC bought a new position in Biohaven in the fourth quarter worth about $469,000. Monashee Investment Management LLC lifted its holdings in Biohaven by 80.0% in the third quarter. Monashee Investment Management LLC now owns 90,000 shares of the company’s stock worth $2,341,000 after acquiring an additional 40,000 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Biohaven in the third quarter worth about $923,000. 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.