Biohaven (NYSE:BHVN) Given New $68.00 Price Target at JPMorgan Chase & Co.

Biohaven (NYSE:BHVN) had its price objective cut by JPMorgan Chase & Co. from $72.00 to $68.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently weighed in on the stock. TD Cowen boosted their target price on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Biohaven in a report on Tuesday, February 11th. They set a “buy” rating and a $65.00 price target on the stock. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $62.77.

Biohaven Stock Down 1.2 %

Biohaven stock opened at $30.98 on Wednesday. The company’s 50-day moving average price is $38.07 and its 200-day moving average price is $42.66. Biohaven has a twelve month low of $26.80 and a twelve month high of $62.21. The company has a market cap of $3.13 billion, a PE ratio of -3.31 and a beta of 1.27.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, sell-side analysts expect that Biohaven will post -8.9 earnings per share for the current fiscal year.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $30.47 per share, with a total value of $996,369.00. Following the transaction, the director now owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This trade represents a 1.43 % 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. Corporate insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

A number of hedge funds and other institutional investors have recently bought and sold shares of BHVN. Spire Wealth Management purchased a new stake in Biohaven during the fourth quarter valued at approximately $56,000. US Bancorp DE lifted its position in Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after acquiring an additional 790 shares during the last quarter. Amalgamated Bank lifted its position in Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after acquiring an additional 527 shares during the last quarter. KBC Group NV lifted its position in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares during the last quarter. Finally, Quarry LP purchased a new stake in Biohaven during the fourth quarter valued at approximately $112,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

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.