Biohaven (NYSE:BHVN) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Biohaven (NYSE:BHVN) to a strong-buy rating in a research report report published on Tuesday morning,Zacks.com reports. Cantor Fitzgerald also issued estimates for Biohaven’s FY2025 earnings at ($6.80) EPS.

Several other analysts have also recently commented on BHVN. Robert W. Baird reduced their target price on Biohaven from $60.00 to $57.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. reduced their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the company a “buy” rating in a report on Thursday, March 20th. Finally, Royal Bank of Canada reduced their target price on Biohaven from $61.00 to $54.00 and set an “outperform” rating on the stock in a report on Tuesday. Thirteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Biohaven currently has a consensus rating of “Buy” and an average target price of $62.00.

Biohaven Stock Down 19.6%

Biohaven stock opened at $15.81 on Tuesday. Biohaven has a 12-month low of $14.69 and a 12-month high of $55.70. The business’s 50-day moving average price is $22.57 and its two-hundred day moving average price is $34.55. The stock has a market cap of $1.61 billion, a PE ratio of -1.69 and a beta of 1.18.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50). As a group, analysts expect that Biohaven will post -8.9 earnings per share for the current year.

Insider Transactions at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of the stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the purchase, the director now owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This represents a 1.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BHVN. JPMorgan Chase & Co. grew its holdings in shares of Biohaven by 144.5% in the fourth 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 period. Norges Bank bought a new stake in shares of Biohaven in the fourth quarter worth $33,711,000. Farallon Capital Management LLC grew its holdings in shares of Biohaven by 21.6% in the fourth 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 period. Janus Henderson Group PLC grew its holdings in shares of Biohaven by 12.1% in the fourth 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 period. Finally, T. Rowe Price Investment Management Inc. bought a new stake in shares of Biohaven in the first quarter worth $15,481,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

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.