Biohaven Ltd. (NYSE:BHVN) Given Consensus Rating of “Buy” by Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have received an average recommendation of “Buy” from the fifteen research firms that are covering the firm, MarketBeat reports. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $63.15.

A number of equities analysts recently issued reports on the stock. TD Cowen upped their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Biohaven in a research note on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Finally, HC Wainwright reissued a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research report on Tuesday, December 17th.

Biohaven Price Performance

Shares of Biohaven stock opened at $39.16 on Friday. The stock has a market cap of $3.96 billion, a price-to-earnings ratio of -4.19 and a beta of 1.28. The firm’s 50-day moving average is $38.39 and its 200 day moving average is $42.71. Biohaven has a 1 year low of $26.80 and a 1 year high of $62.21.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 29,000 shares of Biohaven stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the transaction, the director now directly owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Biohaven in the 3rd quarter worth approximately $50,000. Spire Wealth Management purchased a new stake in Biohaven in the 4th quarter worth approximately $56,000. Values First Advisors Inc. purchased a new stake in Biohaven in the 3rd quarter worth approximately $78,000. US Bancorp DE increased its holdings in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV increased its holdings in Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares in the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

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.