Biohaven's (BHVN) Overweight Rating Reiterated at Cantor Fitzgerald

Biohaven (NYSE:BHVN - Get Free Report)'s stock had its "overweight" rating reiterated by equities research analysts at Cantor Fitzgerald in a report released on Tuesday,Benzinga reports.

BHVN has been the topic of a number of other research reports. TD Cowen increased their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Piper Sandler increased their target price on shares of Biohaven from $66.00 to $76.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Bank of America increased their target price on shares of Biohaven from $52.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on shares of Biohaven from $55.00 to $68.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. Finally, Robert W. Baird increased their target price on shares of Biohaven from $58.00 to $60.00 and gave the company an "outperform" rating in a report on Monday, September 23rd. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $63.00.

Biohaven Stock Performance

Biohaven stock traded down $2.32 during midday trading on Tuesday, reaching $39.12. 1,276,168 shares of the stock were exchanged, compared to its average volume of 1,118,367. The company's fifty day moving average is $48.47 and its 200-day moving average is $41.87. The firm has a market cap of $3.96 billion, a PE ratio of -4.18 and a beta of 1.24. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21.

Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.03). On average, sell-side analysts anticipate that Biohaven will post -8.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gregory Bailey acquired 5,000 shares of the firm's stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the acquisition, the director now directly owns 1,620,071 shares of the company's stock, valued at approximately $71,590,937.49. This trade represents a 0.31 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John W. Childs acquired 21,052 shares of the firm's stock in a transaction dated 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 acquisition, the director now directly owns 21,052 shares of the company's stock, valued at $999,970. The trade was 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 Trading of Biohaven

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SpiderRock Advisors LLC purchased a new stake in Biohaven during the third quarter valued at approximately $620,000. Y Intercept Hong Kong Ltd bought a new position in shares of Biohaven in the third quarter worth approximately $1,339,000. Citigroup Inc. boosted its position in shares of Biohaven by 125.8% during the third quarter. Citigroup Inc. now owns 119,905 shares of the company's stock worth $5,992,000 after acquiring an additional 66,801 shares during the last quarter. XTX Topco Ltd boosted its position in shares of Biohaven by 278.5% during the third quarter. XTX Topco Ltd now owns 32,510 shares of the company's stock worth $1,625,000 after acquiring an additional 23,921 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Biohaven by 234.5% during the second quarter. Principal Financial Group Inc. now owns 79,048 shares of the company's stock worth $2,744,000 after acquiring an additional 55,415 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other 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.