Biohaven (NYSE:BHVN) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Biohaven (NYSE:BHVN) in a report published on Monday, Benzinga reports.

A number of other research analysts have also recently issued reports on BHVN. Morgan Stanley initiated coverage on Biohaven in a research note on Wednesday, July 24th. They issued an overweight rating and a $58.00 target price for the company. HC Wainwright reiterated a buy rating and issued a $59.00 price objective on shares of Biohaven in a research report on Thursday, May 30th. UBS Group dropped their target price 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. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $59.00 price target on shares of Biohaven in a report on Tuesday, June 18th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of Buy and a consensus price target of $54.38.

Biohaven Stock Performance

BHVN opened at $39.75 on Monday. The company has a fifty day moving average price of $36.10 and a two-hundred day moving average price of $42.53. The firm has a market capitalization of $3.51 billion, a PE ratio of -5.81 and a beta of 1.32. Biohaven has a 52 week low of $16.45 and a 52 week high of $62.21.

Biohaven (NYSE:BHVN) last posted its earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Equities analysts forecast that Biohaven will post -7.09 EPS for the current year.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs acquired 28,400 shares of the stock in a transaction dated Thursday, July 18th. The shares were bought at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the acquisition, the director now directly owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John W. Childs purchased 28,000 shares of Biohaven stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $35.58 per share, with a total value of $996,240.00. Following the completion of the transaction, the director now owns 2,311,341 shares of the company’s stock, valued at approximately $82,237,512.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Childs purchased 28,400 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was bought at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the purchase, the director now owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Several large investors have recently made changes to their positions in the stock. Redwood Wealth Management Group LLC bought a new stake in Biohaven during the second quarter worth $61,000. Elkhorn Partners Limited Partnership bought a new stake in shares of Biohaven in the 2nd quarter valued at about $125,000. Quarry LP lifted its stake in Biohaven by 614.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after purchasing an additional 4,300 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in Biohaven during the fourth quarter worth about $214,000. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in Biohaven during the fourth quarter worth approximately $230,000. 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.