Biohaven (NYSE:BHVN) Receives “Buy” Rating from BTIG Research

BTIG Research reiterated their buy rating on shares of Biohaven (NYSE:BHVN) in a research report released on Tuesday morning,Benzinga reports. BTIG Research currently has a $16.00 price objective on the stock.

BHVN has been the subject of a number of other reports. Robert W. Baird set a $42.00 price target on shares of Biohaven in a research note on Wednesday, November 5th. Raymond James Financial restated a “strong-buy” rating on shares of Biohaven in a research report on Wednesday, November 5th. Citigroup reduced their price target on Biohaven from $28.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, November 13th. Leerink Partners dropped their price objective on Biohaven from $60.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Finally, TD Cowen cut their price objective on Biohaven from $50.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.21.

Biohaven Stock Performance

NYSE BHVN opened at $9.43 on Tuesday. The business’s 50 day moving average price is $14.13 and its 200-day moving average price is $14.94. Biohaven has a fifty-two week low of $7.48 and a fifty-two week high of $47.75. The company has a market cap of $998.47 million, a P/E ratio of -1.24 and a beta of 1.10. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.86 and a current ratio of 2.86.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.47) EPS for the quarter, topping the consensus estimate of ($1.91) by $0.44. Sell-side analysts predict that Biohaven will post -8.9 earnings per share for the current year.

Insider Transactions at Biohaven

In other news, CAO George C. Clark bought 17,000 shares of the stock in a transaction on Monday, November 17th. The stock was acquired at an average cost of $8.52 per share, for a total transaction of $144,840.00. Following the acquisition, the chief accounting officer owned 20,000 shares of the company’s stock, valued at $170,400. This represents a 566.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Childs purchased 3,333,333 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were purchased at an average cost of $7.50 per share, for a total transaction of $24,999,997.50. Following the transaction, the director directly owned 5,653,904 shares in the company, valued at approximately $42,404,280. This represents a 143.64% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 4,416,999 shares of company stock worth $33,144,833 in the last ninety days. 14.60% of the stock is owned by company insiders.

Institutional Trading of Biohaven

A number of hedge funds have recently added to or reduced their stakes in the business. Bellevue Group AG increased its position in Biohaven by 37.3% during the 2nd quarter. Bellevue Group AG now owns 2,802,853 shares of the company’s stock valued at $39,548,000 after purchasing an additional 762,000 shares during the period. JPMorgan Chase & Co. increased its holdings in Biohaven by 31.2% during the second quarter. JPMorgan Chase & Co. now owns 2,572,042 shares of the company’s stock valued at $36,292,000 after buying an additional 612,209 shares during the period. Armistice Capital LLC raised its stake in Biohaven by 27.6% in the second quarter. Armistice Capital LLC now owns 2,136,000 shares of the company’s stock worth $30,139,000 after buying an additional 462,578 shares in the last quarter. Geode Capital Management LLC boosted its position in Biohaven by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,030,919 shares of the company’s stock valued at $28,660,000 after acquiring an additional 71,939 shares in the last quarter. Finally, Holocene Advisors LP increased its holdings in shares of Biohaven by 19.1% in the 2nd quarter. Holocene Advisors LP now owns 1,495,641 shares of the company’s stock valued at $21,103,000 after acquiring an additional 239,889 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Company Profile

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.