Biohaven’s (BHVN) Buy Rating Reaffirmed at HC Wainwright

by · The Markets Daily

HC Wainwright restated their buy rating on shares of Biohaven (NYSE:BHVN – Free Report) in a research note released on Tuesday morning, Benzinga reports. The firm currently has a $59.00 price objective on the stock.

Several other analysts have also weighed in on BHVN. Piper Sandler upped their target price on Biohaven from $66.00 to $76.00 and gave the company an overweight rating in a report on Monday. Sanford C. Bernstein started coverage on Biohaven in a report on Wednesday, September 4th. They issued an outperform rating and a $55.00 target price on the stock. Cantor Fitzgerald reissued an overweight rating on shares of Biohaven in a report on Monday, August 19th. Morgan Stanley initiated coverage on Biohaven in a report on Wednesday, July 24th. They issued an overweight rating and a $58.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on Biohaven in a research note on Monday, September 16th. They set a buy rating and a $57.00 price objective on the stock. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Buy and an average target price of $60.92.

Check Out Our Latest Analysis on Biohaven

Biohaven Price Performance

Shares of BHVN stock opened at $51.18 on Tuesday. The business’s fifty day moving average price is $39.23 and its 200 day moving average price is $40.78. Biohaven has a 1-year low of $20.80 and a 1-year high of $62.21. The firm has a market capitalization of $4.84 billion, a PE ratio of -7.49 and a beta of 1.30.

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). Equities research analysts expect that Biohaven will post -8.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Biohaven news, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Biohaven news, Director John W. Childs bought 28,400 shares of Biohaven stock in a transaction that occurred 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 completion of the transaction, the director now owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biohaven

Large investors have recently modified their holdings of the company. Perceptive Advisors LLC raised its holdings in shares of Biohaven by 129.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after purchasing an additional 973,227 shares during the period. Vanguard Group Inc. raised its holdings in shares of Biohaven by 280.5% in the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after purchasing an additional 4,650,702 shares during the period. CWM LLC raised its holdings in shares of Biohaven by 1,893.4% in the 2nd quarter. CWM LLC now owns 14,552 shares of the company’s stock worth $505,000 after purchasing an additional 13,822 shares during the period. Oak Ridge Investments LLC raised its holdings in shares of Biohaven by 197.6% in the 2nd quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock worth $764,000 after purchasing an additional 14,607 shares during the period. Finally, Bellevue Group AG raised its holdings in shares of Biohaven by 7.0% in the 1st quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock worth $62,894,000 after purchasing an additional 75,000 shares during the period. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Biohaven Company Profile

(Get Free Report)

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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