Biohaven (NYSE:BHVN) Stock Rating Reaffirmed by Cantor Fitzgerald

Biohaven (NYSE:BHVN)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a report released on Thursday, Benzinga reports.

Other analysts have also recently issued reports about the company. HC Wainwright increased their price target on Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price target on Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. TD Cowen increased their price target on Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Finally, UBS Group initiated coverage on Biohaven in a research report on Tuesday, February 6th. They issued a “buy” rating and a $59.00 target price on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $52.00.

Biohaven Stock Down 7.5 %

NYSE:BHVN opened at $38.99 on Thursday. The business’s 50 day moving average is $51.84 and its two-hundred day moving average is $41.34. The company has a market cap of $3.18 billion, a PE ratio of -6.89 and a beta of 1.18. Biohaven has a 52 week low of $12.35 and a 52 week high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). As a group, sell-side analysts expect that Biohaven will post -5.85 EPS for the current fiscal year.

Institutional Trading of Biohaven

Several large investors have recently added to or reduced their stakes in BHVN. Point72 Asset Management L.P. increased its position in Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after acquiring an additional 1,458,072 shares during the period. Bellevue Group AG acquired a new position in shares of Biohaven during the 4th quarter valued at $46,010,000. Perceptive Advisors LLC increased its position in shares of Biohaven by 129.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock valued at $73,832,000 after purchasing an additional 973,227 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Biohaven by 269.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,316,204 shares of the company’s stock valued at $18,269,000 after purchasing an additional 959,947 shares during the period. Finally, Norges Bank acquired a new position in shares of Biohaven during the 4th quarter valued at $9,200,000. 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.