Biohaven (NYSE:BHVN) Receives Outperform Rating from SVB Leerink

Biohaven (NYSE:BHVN – Get Rating)‘s stock had its “outperform” rating reiterated by analysts at SVB Leerink in a research report issued to clients and investors on Tuesday, MarketBeat reports. They currently have a $24.00 price target on the stock. SVB Leerink’s price target suggests a potential upside of 29.45% from the company’s current price. SVB Leerink also issued estimates for Biohaven’s Q4 2022 earnings at ($1.19) EPS, Q1 2023 earnings at ($1.00) EPS, Q2 2023 earnings at ($1.10) EPS, Q3 2023 earnings at ($1.24) EPS, Q4 2023 earnings at ($1.41) EPS, FY2023 earnings at ($4.75) EPS, FY2024 earnings at ($4.45) EPS, FY2025 earnings at ($4.40) EPS and FY2026 earnings at ($2.65) EPS.

Other analysts have also recently issued research reports about the stock. Cowen decreased their price target on shares of Biohaven to $25.00 in a research note on Monday, November 7th. Cowen set a $25.00 price target on Biohaven in a research note on Monday, November 7th. Piper Sandler reduced their price objective on Biohaven from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. JPMorgan Chase & Co. assumed coverage on Biohaven in a research report on Wednesday, January 4th. They set an “overweight” rating and a $23.00 target price for the company. Finally, BTIG Research began coverage on shares of Biohaven in a report on Friday, December 2nd. They issued a “buy” rating and a $24.00 target price for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Biohaven currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.32.

Biohaven Stock Down 3.1 %

BHVN stock opened at $18.54 on Tuesday. Biohaven has a twelve month low of $5.54 and a twelve month high of $20.00. The business’s 50-day moving average price is $15.61 and its 200-day moving average price is $71.45.

Biohaven (NYSE:BHVN – Get Rating) last announced its quarterly earnings data on Wednesday, November 9th. The company reported ($1.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.53) by $0.78. On average, analysts expect that Biohaven will post -9.82 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Vlad Coric acquired 25,800 shares of Biohaven stock in a transaction that occurred on Monday, October 31st. The shares were bought at an average cost of $15.97 per share, with a total value of $412,026.00. Following the transaction, the chief executive officer now directly owns 1,543,394 shares of the company’s stock, valued at approximately $24,648,002.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 12.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biohaven

A number of institutional investors have recently modified their holdings of BHVN. EverSource Wealth Advisors LLC increased its position in shares of Biohaven by 311.8% during the second quarter. EverSource Wealth Advisors LLC now owns 280 shares of the company’s stock worth $41,000 after acquiring an additional 212 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Biohaven during the second quarter worth approximately $59,000. JBF Capital Inc. purchased a new position in shares of Biohaven during the third quarter worth approximately $63,000. US Bancorp DE increased its position in shares of Biohaven by 19.1% during the first quarter. US Bancorp DE now owns 586 shares of the company’s stock worth $70,000 after acquiring an additional 94 shares during the period. Finally, Exchange Traded Concepts LLC increased its position in shares of Biohaven by 151.6% during the second quarter. Exchange Traded Concepts LLC now owns 536 shares of the company’s stock worth $78,000 after acquiring an additional 323 shares during the period. 98.01% of the stock is owned by hedge funds and other institutional investors.

About Biohaven

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Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering and developing therapies for patients with debilitating neurological and neuropsychiatric diseases in the United States. The company's pipeline products include BHV-7000, a potassium channel activator for the treatment of focal epilepsy; Troriluzole, a tripeptide prodrug that is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500, a low-trapping glutamate N-methyl-D-aspartate receptor antagonist for neuropathic pain; and Verdiperstat, an irreversible myeloperoxidase enzyme inhibitor for the treatment of neurodegenerative diseases.