Biohaven Ltd. (NYSE:BHVN) Receives $59.46 Average PT from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus recommendation of “Buy” by the fifteen ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $59.46.

A number of analysts recently issued reports on the company. Cantor Fitzgerald raised Biohaven to a “strong-buy” rating in a report on Tuesday, May 13th. William Blair upgraded Biohaven to a “strong-buy” rating in a research note on Thursday, April 24th. Robert W. Baird decreased their target price on Biohaven from $60.00 to $57.00 and set an “outperform” rating on the stock in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the stock a “buy” rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. decreased their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th.

Insider Activity

In other news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the transaction, the director now owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This trade represents a 1.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Biohaven by 144.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company’s stock worth $73,922,000 after acquiring an additional 1,169,721 shares during the last quarter. Norges Bank bought a new position in Biohaven during the 4th quarter worth approximately $33,711,000. Millennium Management LLC grew its position in Biohaven by 1,172.9% during the 1st quarter. Millennium Management LLC now owns 901,258 shares of the company’s stock worth $21,666,000 after acquiring an additional 830,457 shares during the last quarter. Farallon Capital Management LLC grew its position in Biohaven by 21.6% during the 4th quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company’s stock worth $165,392,000 after acquiring an additional 785,578 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Biohaven by 12.1% during the 4th quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company’s stock worth $260,735,000 after acquiring an additional 756,032 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors.

Biohaven Stock Performance

Shares of BHVN opened at $14.83 on Monday. The stock’s 50-day simple moving average is $19.56 and its 200 day simple moving average is $31.58. The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of -1.59 and a beta of 1.18. Biohaven has a 52-week low of $14.33 and a 52-week high of $55.70.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50). On average, research analysts forecast that Biohaven will post -8.9 earnings per share for the current fiscal year.

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.