Biohaven (NYSE:BHVN) Given "Buy" Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Biohaven (NYSE:BHVN - Free Report) in a research note issued to investors on Tuesday morning,Benzinga reports. HC Wainwright currently has a $54.00 price target on the stock.

Several other equities analysts have also commented on the company. TD Cowen increased their price objective on Biohaven from $55.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Biohaven in a research report on Tuesday, February 11th. They set a "buy" rating and a $65.00 price objective on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday. Fourteen equities 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, the stock currently has an average rating of "Buy" and a consensus price target of $62.77.

Biohaven Stock Down 1.2 %

Biohaven stock traded down $0.39 during mid-day trading on Tuesday, reaching $30.98. 1,625,009 shares of the company's stock were exchanged, compared to its average volume of 960,867. The business's fifty day simple moving average is $38.07 and its 200 day simple moving average is $42.66. The firm has a market capitalization of $3.13 billion, a PE ratio of -3.31 and a beta of 1.27. Biohaven has a one year low of $26.80 and a one year high of $62.21.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly 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). On average, sell-side analysts forecast that Biohaven will post -8.9 earnings per share for the current year.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs bought 29,000 shares of the company's stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the transaction, the director now directly owns 2,368,741 shares of the company's stock, valued at approximately $85,132,551.54. This represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 16.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. HighTower Advisors LLC boosted its holdings in shares of Biohaven by 6.1% in the fourth quarter. HighTower Advisors LLC now owns 5,870 shares of the company's stock valued at $219,000 after purchasing an additional 335 shares during the period. Franklin Resources Inc. increased its position in shares of Biohaven by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 79,705 shares of the company's stock valued at $4,206,000 after acquiring an additional 412 shares during the period. KBC Group NV increased its position in shares of Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company's stock valued at $112,000 after acquiring an additional 443 shares during the period. Venturi Wealth Management LLC boosted its holdings in Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company's stock valued at $156,000 after purchasing an additional 500 shares during the last quarter. Finally, FSC Wealth Advisors LLC boosted its holdings in Biohaven by 3.3% in the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company's stock valued at $579,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other 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.