Biohaven (NYSE:BHVN) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Biohaven (NYSE:BHVN) in a research note released on Wednesday, Benzinga reports.

BHVN has been the topic of several other research reports. Jefferies Financial Group began coverage on Biohaven in a research report on Monday, September 16th. They set a “buy” rating and a $57.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Tuesday, September 24th. Royal Bank of Canada increased their price objective on Biohaven from $59.00 to $68.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. UBS Group lowered their price objective on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, William Blair upgraded Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $61.92.

Biohaven Trading Up 0.9 %

BHVN opened at $52.84 on Wednesday. Biohaven has a 1-year low of $25.97 and a 1-year high of $62.21. The stock’s fifty day simple moving average is $44.87 and its 200 day simple moving average is $40.11. The stock has a market cap of $4.67 billion, a PE ratio of -7.74 and a beta of 1.31.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). Equities analysts forecast that Biohaven will post -8.82 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Biohaven

Several large investors have recently bought and sold shares of BHVN. Vanguard Group Inc. boosted its stake in shares of Biohaven by 280.5% during the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after purchasing an additional 4,650,702 shares in the last quarter. Darwin Global Management Ltd. acquired a new stake in shares of Biohaven during the first quarter valued at about $80,776,000. Farallon Capital Management LLC boosted its stake in shares of Biohaven by 181.4% during the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after purchasing an additional 1,449,000 shares in the last quarter. Armistice Capital LLC boosted its stake in shares of Biohaven by 74.8% during the second quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock valued at $48,489,000 after purchasing an additional 597,705 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Biohaven by 166.8% during the second quarter. American Century Companies Inc. now owns 511,237 shares of the company’s stock valued at $17,745,000 after purchasing an additional 319,634 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

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.