Biohaven (NYSE:BHVN) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Biohaven (NYSE:BHVN - Free Report) in a research report sent to investors on Tuesday, Benzinga reports.

BHVN has been the topic of a number of other reports. Sanford C. Bernstein assumed coverage on Biohaven in a research report on Wednesday, September 4th. They set an outperform rating and a $55.00 target price on the stock. UBS Group lowered their price objective on shares of Biohaven from $55.00 to $54.00 and set a buy rating on the stock in a report on Tuesday, August 13th. Leerink Partners lifted their price objective on shares of Biohaven from $55.00 to $60.00 and gave the company an outperform rating in a report on Monday. Piper Sandler upped their target price on shares of Biohaven from $66.00 to $76.00 and gave the stock an overweight rating in a report on Monday. Finally, HC Wainwright reaffirmed a buy rating and issued a $59.00 price target on shares of Biohaven in a research report on Tuesday. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $60.92.

Biohaven Stock Performance

Shares of BHVN stock traded down $0.90 during trading hours on Tuesday, hitting $45.04. 1,717,776 shares of the company were exchanged, compared to its average volume of 1,178,760. The company has a 50 day simple moving average of $38.50 and a two-hundred day simple moving average of $40.74. The firm has a market cap of $3.98 billion, a P/E ratio of -6.50 and a beta of 1.30. Biohaven has a fifty-two week low of $16.48 and a fifty-two week high of $62.21.

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

Insider Activity at Biohaven

In related news, Director John W. Childs acquired 28,400 shares of the stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the transaction, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 16.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biohaven

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its position in shares of Biohaven by 47.6% during the fourth quarter. Principal Financial Group Inc. now owns 27,935 shares of the company's stock worth $1,196,000 after acquiring an additional 9,005 shares in the last quarter. TD Asset Management Inc lifted its holdings in Biohaven by 31.0% during the 4th quarter. TD Asset Management Inc now owns 276,172 shares of the company's stock worth $11,820,000 after purchasing an additional 65,426 shares in the last quarter. Stifel Financial Corp lifted its holdings in Biohaven by 7.9% during the 4th quarter. Stifel Financial Corp now owns 6,225,811 shares of the company's stock worth $266,465,000 after purchasing an additional 456,062 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in Biohaven in the 4th quarter worth about $235,000. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in Biohaven during the 4th quarter valued at about $230,000. Institutional investors own 88.78% of the company's stock.

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.