Biohaven Ltd. (NYSE:BHVN) Receives $63.00 Consensus Target Price from Analysts

Shares of Biohaven Ltd. (NYSE:BHVN) have earned an average recommendation of “Buy” from the fourteen ratings firms that are covering the company, MarketBeat reports. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $63.00.

A number of equities analysts recently commented on the stock. 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, November 13th. JPMorgan Chase & Co. boosted their price target on Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. HC Wainwright reissued a “buy” rating and set a $59.00 target price on shares of Biohaven in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target (up previously from $58.00) on shares of Biohaven in a report on Wednesday, December 4th.

Biohaven Price Performance

NYSE BHVN opened at $39.36 on Tuesday. The stock has a market capitalization of $3.98 billion, a PE ratio of -4.21 and a beta of 1.29. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21. The business has a 50 day simple moving average of $40.37 and a two-hundred day simple moving average of $42.49.

Biohaven (NYSE:BHVN) last announced its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, analysts anticipate that Biohaven will post -8.85 EPS for the current fiscal year.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs purchased 29,000 shares of the stock in a transaction on Monday, December 30th. The shares were bought at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the transaction, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new stake in shares of Biohaven in the third quarter valued at about $50,000. Spire Wealth Management purchased a new stake in shares of Biohaven in the fourth quarter valued at about $56,000. Values First Advisors Inc. acquired a new stake in Biohaven during the third quarter worth about $78,000. US Bancorp DE lifted its holdings in Biohaven by 57.1% in 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. Finally, KBC Group NV grew its holdings in shares of Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after purchasing an additional 443 shares during the period. 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.