Biohaven Ltd. (NYSE:BHVN) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have been given an average recommendation of “Buy” by the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $62.77.

BHVN has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the stock a “buy” rating in a report on Thursday, March 20th. Morgan Stanley lowered their price target on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and set a $54.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research note on Tuesday, March 4th.

Biohaven Price Performance

Shares of NYSE BHVN opened at $18.54 on Friday. The stock has a market capitalization of $1.89 billion, a P/E ratio of -1.98 and a beta of 1.33. The business has a fifty day moving average price of $33.40 and a 200 day moving average price of $40.81. Biohaven has a 1-year low of $17.93 and a 1-year high of $55.70.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, equities research analysts anticipate that Biohaven will post -8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director John W. Childs bought 32,700 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management acquired a new stake in Biohaven in the fourth quarter valued at $56,000. Amalgamated Bank lifted its position in shares of Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after acquiring an additional 527 shares in the last quarter. US Bancorp DE boosted its stake in shares of Biohaven by 36.7% during the fourth quarter. US Bancorp DE now owns 2,971 shares of the company’s stock valued at $111,000 after acquiring an additional 798 shares during the last quarter. Quarry LP purchased a new stake in Biohaven during the 4th quarter worth about $112,000. Finally, Lazard Asset Management LLC raised its stake in Biohaven by 47.4% in the 4th quarter. Lazard Asset Management LLC now owns 3,207 shares of the company’s stock valued at $119,000 after purchasing an additional 1,031 shares during the last quarter. 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.