Biohaven (NYSE:BHVN) Earns Buy Rating from Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Biohaven (NYSE:BHVN) in a report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $65.00 target price on the stock.

BHVN has been the topic of a number of other reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 target price (up from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. TD Cowen raised their target price on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research note on Tuesday, December 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $63.15.

Biohaven Price Performance

Shares of BHVN opened at $41.68 on Tuesday. The firm’s 50 day simple moving average is $38.63 and its 200 day simple moving average is $42.62. The company has a market capitalization of $4.21 billion, a P/E ratio of -4.46 and a beta of 1.28. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21.

Biohaven (NYSE:BHVN) last announced its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). On average, equities analysts anticipate that Biohaven will post -8.9 earnings per share for the current year.

Insider Transactions at Biohaven

In other news, Director John W. Childs bought 29,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the acquisition, the director now owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BHVN. nVerses Capital LLC bought a new position in shares of Biohaven in the third quarter worth approximately $50,000. Spire Wealth Management bought a new stake in Biohaven in the fourth quarter valued at $56,000. Values First Advisors Inc. bought a new stake in Biohaven in the third quarter valued at $78,000. US Bancorp DE boosted 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 in the last quarter. Finally, Amalgamated Bank boosted its holdings in Biohaven by 21.9% in 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 in the last quarter. 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.