Biohaven (NYSE:BHVN) Given Overweight Rating at Cantor Fitzgerald

Biohaven (NYSE:BHVN)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a research report issued on Monday, Benzinga reports.

Other research analysts have also issued reports about the company. UBS Group increased their target price on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. HC Wainwright reissued a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $59.00 price objective on shares of Biohaven in a research report on Tuesday, June 18th. Finally, Morgan Stanley began coverage on Biohaven in a research report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $54.38.

Biohaven Stock Up 6.3 %

Shares of Biohaven stock opened at $39.31 on Monday. Biohaven has a fifty-two week low of $16.45 and a fifty-two week high of $62.21. The firm has a market cap of $3.47 billion, a PE ratio of -5.76 and a beta of 1.32. The business’s fifty day moving average is $35.82 and its two-hundred day moving average is $42.66.

Biohaven (NYSE:BHVN) last issued its earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Equities research analysts anticipate that Biohaven will post -7.09 EPS for the current year.

Insider Activity

In other Biohaven news, Director John W. Childs bought 28,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John W. Childs purchased 28,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average cost of $35.58 per share, for a total transaction of $996,240.00. Following the completion of the purchase, the director now owns 2,311,341 shares of the company’s stock, valued at $82,237,512.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Childs purchased 28,400 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the purchase, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently bought and sold shares of BHVN. Redwood Wealth Management Group LLC bought a new position in Biohaven in the second quarter worth about $61,000. Elkhorn Partners Limited Partnership bought a new position in Biohaven in the second quarter worth about $125,000. Thompson Davis & CO. Inc. bought a new position in Biohaven in the fourth quarter worth about $214,000. Prevail Innovative Wealth Advisors LLC bought a new position in Biohaven in the fourth quarter worth about $230,000. Finally, Private Advisor Group LLC bought a new position in Biohaven in the fourth quarter worth about $231,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

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.