Biohaven (NYSE:BHVN) Price Target Increased to $66.00 by Analysts at Sanford C. Bernstein

Biohaven (NYSE:BHVN - Free Report) had its price target upped by Sanford C. Bernstein from $55.00 to $66.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

BHVN has been the topic of a number of other research reports. Robert W. Baird increased their price objective on shares of Biohaven from $58.00 to $60.00 and gave the stock an outperform rating in a report on Monday. HC Wainwright reiterated a buy rating and set a $59.00 target price on shares of Biohaven in a research report on Tuesday. Jefferies Financial Group began coverage on shares of Biohaven in a report on Monday, September 16th. They issued a buy rating and a $57.00 price target for the company. William Blair raised Biohaven to a strong-buy rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald reissued an overweight rating on shares of Biohaven in a research note on Tuesday. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus price target of $60.92.

Biohaven Stock Performance

Shares of NYSE:BHVN traded down $0.88 on Tuesday, hitting $45.06. The stock had a trading volume of 1,718,006 shares, compared to its average volume of 1,178,760. The firm's 50 day moving average price is $38.65 and its 200-day moving average price is $40.65. Biohaven has a twelve month low of $16.48 and a twelve month high of $62.21. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -6.60 and a beta of 1.30.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing analysts' consensus estimates of ($1.72) by ($1.92). As a group, sell-side analysts predict that Biohaven will post -8.92 EPS for the current year.

Insider Activity at Biohaven

In other news, Director John W. Childs purchased 28,400 shares of Biohaven stock in a transaction dated Thursday, July 18th. The shares were bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the transaction, the director now directly owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 16.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently modified their holdings of the business. Redwood Wealth Management Group LLC bought a new position in Biohaven during the 2nd quarter worth about $61,000. Elkhorn Partners Limited Partnership bought a new position in Biohaven during the 2nd quarter worth about $125,000. Quarry LP increased its holdings in Biohaven by 614.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company's stock worth $174,000 after purchasing an additional 4,300 shares in the last quarter. Prevail Innovative Wealth Advisors LLC bought a new position in Biohaven during the 4th quarter worth about $230,000. Finally, Capstone Investment Advisors LLC bought a new position in Biohaven during the 4th quarter worth about $235,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

About Biohaven

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.