UBS Group Increases Biohaven (NYSE:BHVN) Price Target to $60.00

Biohaven (NYSE:BHVN) had its target price raised by UBS Group from $59.00 to $60.00 in a report published on Tuesday, Benzinga reports. UBS Group currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Biohaven from $32.00 to $56.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. Royal Bank of Canada reissued an outperform rating and issued a $61.00 price objective on shares of Biohaven in a research note on Tuesday, April 9th. Cantor Fitzgerald reissued an overweight rating on shares of Biohaven in a research note on Thursday, April 18th. HC Wainwright raised their price objective on shares of Biohaven from $50.00 to $63.00 and gave the stock a buy rating in a research note on Monday, March 4th. Finally, TD Cowen raised their price objective on shares of Biohaven from $35.00 to $55.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average price target of $52.13.

Biohaven Trading Up 1.2 %

Shares of NYSE:BHVN opened at $38.99 on Tuesday. Biohaven has a 12 month low of $12.35 and a 12 month high of $62.21. The company has a 50-day moving average price of $51.11 and a 200 day moving average price of $41.77. The company has a market cap of $3.44 billion, a price-to-earnings ratio of -6.89 and a beta of 1.18.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). As a group, equities analysts forecast that Biohaven will post -5.85 EPS for the current year.

Insider Transactions at Biohaven

In related news, Director Gregory Bailey bought 25,503 shares of Biohaven stock in a transaction dated Wednesday, April 24th. The shares were acquired at an average cost of $39.18 per share, with a total value of $999,207.54. Following the completion of the transaction, the director now owns 1,600,071 shares in the company, valued at approximately $62,690,781.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Biohaven news, CEO Vlad Coric acquired 121,951 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,788,417 shares in the company, valued at approximately $73,325,097. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory Bailey acquired 25,503 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average cost of $39.18 per share, for a total transaction of $999,207.54. Following the completion of the acquisition, the director now owns 1,600,071 shares of the company’s stock, valued at $62,690,781.78. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 196,234 shares of company stock valued at $7,999,179. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently bought and sold shares of BHVN. Teacher Retirement System of Texas lifted its stake in shares of Biohaven by 4.7% during the third quarter. Teacher Retirement System of Texas now owns 16,486 shares of the company’s stock worth $429,000 after buying an additional 746 shares during the period. Raymond James & Associates lifted its stake in shares of Biohaven by 3.5% during the fourth quarter. Raymond James & Associates now owns 28,499 shares of the company’s stock worth $1,220,000 after buying an additional 954 shares during the period. Swiss National Bank lifted its stake in shares of Biohaven by 1.0% during the third quarter. Swiss National Bank now owns 127,500 shares of the company’s stock worth $3,316,000 after buying an additional 1,300 shares during the period. Weybosset Research & Management LLC lifted its stake in shares of Biohaven by 12.4% during the fourth quarter. Weybosset Research & Management LLC now owns 13,640 shares of the company’s stock worth $584,000 after buying an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Biohaven by 5.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,094 shares of the company’s stock worth $1,716,000 after buying an additional 2,023 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.

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.