Biohaven's (BHVN) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Biohaven (NYSE:BHVN - Free Report) in a research report report published on Thursday morning,Benzinga reports. HC Wainwright currently has a $59.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird upped their price target on shares of Biohaven from $58.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday, September 23rd. Royal Bank of Canada lowered their price target on Biohaven from $68.00 to $66.00 and set an "outperform" rating on the stock in a report on Wednesday. Piper Sandler lifted their price target on Biohaven from $66.00 to $76.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Sanford C. Bernstein upped their price objective on shares of Biohaven from $55.00 to $66.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group began coverage on shares of Biohaven in a research report on Monday, September 16th. They set a "buy" rating and a $57.00 target price for the company. Thirteen investment 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, the company has a consensus rating of "Buy" and a consensus target price of $63.42.

Biohaven Price Performance

Shares of Biohaven stock traded up $0.84 during trading hours on Thursday, hitting $49.88. 470,570 shares of the company's stock traded hands, compared to its average volume of 1,135,328. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of -5.32 and a beta of 1.31. Biohaven has a 12-month low of $26.80 and a 12-month high of $62.21. The company has a fifty day simple moving average of $47.77 and a 200-day simple moving average of $40.82.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, analysts forecast that Biohaven will post -8.81 EPS for the current fiscal year.

Insider Transactions at Biohaven

In other news, Director John W. Childs bought 21,052 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the acquisition, the director now owns 21,052 shares in the company, valued at approximately $999,970. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director John W. Childs purchased 21,052 shares of Biohaven stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of 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 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased 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 acquiring an additional 4,650,702 shares during the last quarter. Darwin Global Management Ltd. purchased a new stake in shares of Biohaven during the 1st quarter valued at about $80,776,000. Farallon Capital Management LLC lifted its stake in shares of Biohaven by 181.4% in the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company's stock worth $78,028,000 after purchasing an additional 1,449,000 shares during the period. Armistice Capital LLC lifted its stake in shares of Biohaven by 74.8% in the 2nd quarter. Armistice Capital LLC now owns 1,396,968 shares of the company's stock worth $48,489,000 after purchasing an additional 597,705 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Biohaven by 563.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company's stock worth $25,416,000 after purchasing an additional 431,954 shares during the period. 88.78% of the stock is owned by institutional investors.

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.