JPMorgan Chase & Co. Issues Pessimistic Forecast for Biohaven (NYSE:BHVN) Stock Price

Biohaven (NYSE:BHVN - Get Free Report) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $72.00 to $68.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 121.20% from the stock's current price.

Several other equities research analysts have also weighed in on BHVN. Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft initiated coverage on Biohaven in a research note on Tuesday, February 11th. They set a "buy" rating and a $65.00 price target on the stock. TD Cowen increased their price target on Biohaven from $55.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. HC Wainwright restated a "buy" rating and set a $54.00 target price on shares of Biohaven in a report on Tuesday. Finally, Royal Bank of Canada restated an "outperform" rating and set a $61.00 price objective on shares of Biohaven in a research note on Tuesday. Fourteen 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, the stock presently has an average rating of "Buy" and a consensus target price of $62.77.

Biohaven Stock Down 2.0 %

Shares of BHVN traded down $0.63 during mid-day trading on Wednesday, hitting $30.74. The company had a trading volume of 169,275 shares, compared to its average volume of 922,553. The stock has a market cap of $3.11 billion, a PE ratio of -3.31 and a beta of 1.27. The business's 50-day simple moving average is $38.16 and its 200-day simple moving average is $42.71. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29). On average, sell-side analysts expect that Biohaven will post -8.9 earnings per share for the current year.

Insider Activity at Biohaven

In related news, Director John W. Childs bought 32,700 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. The trade was a 1.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 16.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Biohaven

A number of institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company's stock valued at $109,000 after buying an additional 790 shares in the last quarter. SpiderRock Advisors LLC acquired a new stake in Biohaven in the 3rd quarter valued at about $620,000. Venturi Wealth Management LLC raised its stake in shares of Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company's stock worth $156,000 after acquiring an additional 500 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Biohaven by 67.1% during the third quarter. Victory Capital Management Inc. now owns 363,615 shares of the company's stock worth $18,170,000 after purchasing an additional 145,960 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company's stock valued at $112,000 after purchasing an additional 443 shares during the last quarter. 88.78% of the stock is 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.

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