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

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

BHVN has been the subject of a number of other research reports. Royal Bank of Canada decreased their target price on shares of Biohaven from $66.00 to $58.00 and set an "outperform" rating for the company in a research note on Monday. Bank of America upped their target price on Biohaven from $52.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, September 24th. UBS Group lowered their price target on shares of Biohaven from $55.00 to $54.00 and set a "buy" rating for the company in a report on Tuesday, August 13th. Cantor Fitzgerald reissued an "overweight" rating on shares of Biohaven in a research note on Wednesday, October 23rd. Finally, Robert W. Baird lifted their price objective on Biohaven from $58.00 to $60.00 and gave the stock 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $62.75.

Biohaven Stock Up 2.4 %

Shares of NYSE:BHVN traded up $1.08 during trading on Tuesday, reaching $46.31. 471,559 shares of the company traded hands, compared to its average volume of 1,131,727. The firm has a fifty day simple moving average of $49.23 and a 200 day simple moving average of $41.13. The firm has a market cap of $4.68 billion, a P/E ratio of -4.94 and a beta of 1.31. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21.

Biohaven (NYSE:BHVN - Get Free Report) last issued its earnings results 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). As a group, research analysts anticipate that Biohaven will post -8.85 EPS for the current year.

Insider Activity at Biohaven

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

Institutional Trading of Biohaven

Hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in Biohaven during the 3rd quarter worth approximately $50,000. Values First Advisors Inc. bought a new position in shares of Biohaven during the 3rd quarter worth approximately $78,000. Redwood Wealth Management Group LLC bought a new position in shares of Biohaven during the 2nd quarter worth approximately $61,000. US Bancorp DE grew its stake in shares of Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company's stock worth $109,000 after acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company's stock worth $112,000 after acquiring an additional 443 shares in the last quarter. 88.78% of the stock is currently 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.