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

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

BHVN has been the subject of several other reports. Piper Sandler upped their target price on Biohaven from $66.00 to $76.00 and gave the company an "overweight" rating in a report on Monday, September 23rd. Sanford C. Bernstein upped their price target on Biohaven from $55.00 to $66.00 and gave the company an "outperform" rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price target on Biohaven from $55.00 to $68.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Leerink Partners upped their price target on Biohaven from $55.00 to $60.00 and gave the company an "outperform" rating in a research report on Monday, September 23rd. Finally, HC Wainwright reissued a "buy" rating and set a $59.00 price target on shares of Biohaven in a research report on Tuesday, September 24th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Biohaven presently has a consensus rating of "Buy" and a consensus target price of $61.92.

Biohaven Price Performance

Shares of Biohaven stock traded up $0.10 during trading on Wednesday, hitting $52.75. The stock had a trading volume of 711,894 shares, compared to its average volume of 1,172,097. The firm has a market cap of $4.66 billion, a P/E ratio of -7.61 and a beta of 1.31. The business has a fifty day moving average of $44.04 and a two-hundred day moving average of $40.01. Biohaven has a fifty-two week low of $25.97 and a fifty-two week high of $62.21.

Biohaven (NYSE:BHVN - Get Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92). As a group, research analysts forecast that Biohaven will post -8.82 earnings per share for the current year.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs bought 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average price of $47.50 per share, with a total value of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares of the company's stock, valued at $999,970. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Gregory Bailey acquired 5,000 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were bought at an average price of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares of the company's stock, valued at $71,590,937.49. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, 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 purchased at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares in the company, valued at $999,970. The disclosure for this purchase can be found here. Insiders own 16.00% of the company's stock.

Institutional Trading of Biohaven

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Biohaven by 280.5% during the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company's stock worth $345,031,000 after buying an additional 4,650,702 shares during the period. Darwin Global Management Ltd. bought a new position in shares of Biohaven during the 1st quarter worth approximately $80,776,000. Farallon Capital Management LLC lifted its position in shares of Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company's stock worth $78,028,000 after buying an additional 1,449,000 shares during the period. Armistice Capital LLC lifted its position in shares of Biohaven by 74.8% during the 2nd quarter. Armistice Capital LLC now owns 1,396,968 shares of the company's stock worth $48,489,000 after buying an additional 597,705 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Biohaven by 166.8% during the 2nd quarter. American Century Companies Inc. now owns 511,237 shares of the company's stock worth $17,745,000 after buying an additional 319,634 shares during the period. Institutional investors and hedge funds 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.