Biohaven Ltd. (NYSE:BHVN - Get Free Report) has received an average recommendation of "Buy" from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $61.92.
A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Biohaven from $55.00 to $68.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. Morgan Stanley began coverage on shares of Biohaven in a report on Wednesday, July 24th. They set an "overweight" rating and a $58.00 price objective on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biohaven in a research note on Friday, October 4th. Sanford C. Bernstein raised their target price on shares of Biohaven from $55.00 to $66.00 and gave the company an "outperform" rating in a research note on Tuesday, September 24th. Finally, Leerink Partners raised their target price on shares of Biohaven from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Monday, September 23rd.
Read Our Latest Stock Analysis on BHVN
BHVN opened at $53.73 on Friday. The firm's 50-day simple moving average is $41.89 and its 200-day simple moving average is $40.17. Biohaven has a twelve month low of $25.38 and a twelve month high of $62.21. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -5.87 and a beta of 1.31.
Biohaven (NYSE:BHVN - Get Free Report) 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). As a group, sell-side analysts anticipate that Biohaven will post -8.82 EPS for the current fiscal year.
In related news, Director John W. Childs bought 28,400 shares of the company's stock in a transaction on Thursday, July 18th. The shares were purchased at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the acquisition, the director now owns 2,339,741 shares of the company's stock, valued at approximately $83,458,561.47. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Biohaven news, Director John W. Childs purchased 28,400 shares of the firm's stock in a transaction dated Thursday, July 18th. The stock was bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the purchase, the director now directly owns 2,339,741 shares of the company's stock, valued at $83,458,561.47. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gregory Bailey purchased 5,000 shares of the firm's stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the purchase, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 54,452 shares of company stock worth $2,233,948. Company insiders own 16.00% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in BHVN. Redwood Wealth Management Group LLC acquired a new position in Biohaven during the second quarter worth $61,000. Elkhorn Partners Limited Partnership bought a new stake in shares of Biohaven in the second quarter valued at about $125,000. Quarry LP boosted its position in shares of Biohaven by 614.3% in the second quarter. Quarry LP now owns 5,000 shares of the company's stock valued at $174,000 after acquiring an additional 4,300 shares during the period. Cypress Wealth Services LLC bought a new stake in shares of Biohaven in the third quarter valued at about $224,000. Finally, Diversified Trust Co bought a new stake in shares of Biohaven in the third quarter valued at about $239,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.
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.
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