Biohaven Ltd. (NYSE:BHVN) Receives $62.77 Consensus Target Price from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have earned an average rating of "Buy" from the fifteen analysts that are covering the firm, MarketBeat Ratings reports. Fourteen equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $62.77.

BHVN has been the subject of several research reports. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the stock a "buy" rating in a research note on Thursday, March 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Morgan Stanley cut their price target on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. HC Wainwright reiterated a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a report on Tuesday, December 17th.

Insider Buying and Selling

In other news, Director John W. Childs acquired 32,700 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the acquisition, the director now owns 2,320,571 shares in the company, valued at $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is owned by insiders.

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Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BHVN. Parallel Advisors LLC grew its holdings in Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock worth $33,000 after purchasing an additional 1,036 shares during the period. Spire Wealth Management purchased a new stake in shares of Biohaven in the 4th quarter worth approximately $56,000. Amalgamated Bank grew its stake in shares of Biohaven by 21.9% in the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after buying an additional 527 shares during the last quarter. US Bancorp DE increased its position in Biohaven by 36.7% during the 4th quarter. US Bancorp DE now owns 2,971 shares of the company's stock valued at $111,000 after buying an additional 798 shares in the last quarter. Finally, Quarry LP purchased a new position in Biohaven during the fourth quarter valued at $112,000. 88.78% of the stock is currently owned by institutional investors.

Biohaven Trading Down 8.5 %

Shares of BHVN traded down $1.58 during trading hours on Friday, reaching $17.09. 1,819,365 shares of the company's stock traded hands, compared to its average volume of 1,120,644. The firm's 50 day simple moving average is $30.88 and its 200-day simple moving average is $39.79. The stock has a market cap of $1.74 billion, a PE ratio of -1.83 and a beta of 1.33. Biohaven has a 12 month low of $15.79 and a 12 month high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29). As a group, analysts expect that Biohaven will post -8.9 earnings per share for the current fiscal year.

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.