Biohaven (NYSE:BHVN) Now Covered by Analysts at Morgan Stanley

Morgan Stanley began coverage on shares of Biohaven (NYSE:BHVN) in a research report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $58.00 price objective on the stock.

A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada reaffirmed an outperform rating and issued a $59.00 price target on shares of Biohaven in a report on Tuesday, June 18th. HC Wainwright reaffirmed a buy rating and issued a $59.00 price target on shares of Biohaven in a report on Thursday, May 30th. Cantor Fitzgerald reiterated an overweight rating on shares of Biohaven in a research note on Thursday, May 30th. Finally, UBS Group boosted their price objective on Biohaven from $59.00 to $60.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and an average target price of $55.13.

Biohaven Stock Performance

Shares of Biohaven stock opened at $41.19 on Wednesday. The business has a 50-day simple moving average of $35.50 and a 200-day simple moving average of $43.42. The company has a market cap of $3.64 billion, a PE ratio of -6.03 and a beta of 1.32. Biohaven has a one year low of $16.45 and a one year high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.70). On average, sell-side analysts predict that Biohaven will post -7.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs purchased 28,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $35.58 per share, for a total transaction of $996,240.00. Following the completion of the purchase, the director now directly owns 2,311,341 shares of the company’s stock, valued at $82,237,512.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director John W. Childs purchased 28,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $35.58 per share, for a total transaction of $996,240.00. Following the completion of the purchase, the director now directly owns 2,311,341 shares of the company’s stock, valued at $82,237,512.78. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Childs purchased 28,400 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were bought at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the purchase, the director now directly owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 84,900 shares of company stock worth $3,011,613. 16.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Biohaven

Several large investors have recently modified their holdings of BHVN. Vanguard Group Inc. raised 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 worth $345,031,000 after purchasing an additional 4,650,702 shares during the last quarter. Darwin Global Management Ltd. purchased a new position in Biohaven in the first quarter worth $80,776,000. Point72 Asset Management L.P. raised its position in Biohaven by 142.2% in the fourth quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock worth $106,297,000 after acquiring an additional 1,458,072 shares in the last quarter. Bellevue Group AG purchased a new position in Biohaven in the fourth quarter worth $46,010,000. Finally, Perceptive Advisors LLC raised its position in Biohaven by 129.4% in the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after acquiring an additional 973,227 shares in the last quarter. 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.