Biohaven (NYSE:BHVN) Price Target Raised to $60.00 at UBS Group

Biohaven (NYSE:BHVN) had its price target boosted by UBS Group from $59.00 to $60.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Biohaven from $32.00 to $56.00 and gave the company an overweight rating in a research note on Friday, February 23rd. TD Cowen upped their target price on Biohaven from $35.00 to $55.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Royal Bank of Canada restated an outperform rating and set a $61.00 target price on shares of Biohaven in a research note on Tuesday, April 9th. HC Wainwright upped their target price on Biohaven from $50.00 to $63.00 and gave the stock a buy rating in a research note on Monday, March 4th. Finally, Cantor Fitzgerald restated an overweight rating on shares of Biohaven in a research note on Thursday, April 18th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Biohaven has an average rating of Buy and a consensus price target of $52.13.

Biohaven Trading Up 3.3 %

Shares of BHVN stock opened at $39.60 on Tuesday. The stock has a market cap of $3.24 billion, a P/E ratio of -7.00 and a beta of 1.18. The stock has a 50 day simple moving average of $51.63 and a 200 day simple moving average of $41.70. Biohaven has a 1 year low of $12.35 and a 1 year high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.40). Analysts forecast that Biohaven will post -5.85 EPS for the current year.

Insider Activity

In other news, CEO Vlad Coric purchased 121,951 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was bought at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the purchase, the chief executive officer now owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Gregory Bailey acquired 48,780 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the completion of the acquisition, the director now directly owns 1,574,568 shares of the company’s stock, valued at approximately $64,557,288. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vlad Coric acquired 121,951 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The disclosure for this purchase can be found here. 16.00% of the stock is owned by corporate insiders.

Institutional Trading of Biohaven

A number of institutional investors and hedge funds have recently bought and sold shares of BHVN. Thompson Davis & CO. Inc. acquired a new stake in Biohaven in the fourth quarter valued at $214,000. Prevail Innovative Wealth Advisors LLC acquired a new stake in Biohaven in the fourth quarter valued at $230,000. Private Advisor Group LLC acquired a new stake in Biohaven in the fourth quarter valued at $231,000. Capstone Investment Advisors LLC acquired a new stake in Biohaven in the fourth quarter valued at $235,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in Biohaven during the 3rd quarter worth about $236,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

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.