Analysts Set Biohaven Ltd. (NYSE:BHVN) Target Price at $61.92

Biohaven Ltd. (NYSE:BHVN) has received a consensus rating of “Buy” from the fourteen research firms that are presently covering the firm, MarketBeat.com reports. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $63.42.

A number of equities analysts have recently issued reports on BHVN shares. Royal Bank of Canada cut their price objective on Biohaven from $68.00 to $66.00 and set an “outperform” rating for the company in a report on Wednesday. William Blair raised Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. TD Cowen lifted 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. Morgan Stanley initiated coverage on shares of Biohaven in a research note on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on shares of Biohaven in a research report on Monday, September 16th. They issued a “buy” rating and a $57.00 target price on the stock.

Insider Transactions at Biohaven

In related news, Director Gregory Bailey acquired 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The shares were acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director John W. Childs purchased 21,052 shares of Biohaven stock in a transaction that occurred on Wednesday, October 2nd. The shares were bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in Biohaven in the third quarter worth about $50,000. Redwood Wealth Management Group LLC bought a new stake in shares of Biohaven in the 2nd quarter worth approximately $61,000. Values First Advisors Inc. purchased a new stake in shares of Biohaven in the 3rd quarter worth approximately $78,000. US Bancorp DE increased its position in Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares in the last quarter. Finally, KBC Group NV raised its stake 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 buying an additional 443 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors.

Biohaven Stock Performance

Biohaven stock opened at $49.08 on Thursday. Biohaven has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The stock has a market cap of $4.64 billion, a P/E ratio of -5.25 and a beta of 1.31. The firm’s fifty day moving average price is $47.77 and its 200-day moving average price is $40.82.

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.