Cantor Fitzgerald Reiterates “Overweight” Rating for Biohaven (NYSE:BHVN)

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

Other equities analysts have also recently issued reports about the stock. Leerink Partners raised their target price on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Bank of America raised their price objective on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. William Blair upgraded Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target (up previously from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Finally, Sanford C. Bernstein upped their price objective on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $63.00.

Biohaven Stock Down 8.0 %

Shares of Biohaven stock opened at $36.00 on Tuesday. The company has a market capitalization of $3.64 billion, a price-to-earnings ratio of -3.85 and a beta of 1.24. The stock’s 50-day simple moving average is $48.19 and its 200-day simple moving average is $41.90. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, equities analysts expect that Biohaven will post -8.85 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John W. Childs acquired 21,052 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price 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 in the company, valued at approximately $999,970. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Bailey bought 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the purchase, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The trade was a 0.31 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is owned by corporate insiders.

Institutional Trading of Biohaven

Several institutional investors and hedge funds have recently made changes to their positions in BHVN. Algert Global LLC increased its stake in Biohaven by 5.9% in the 2nd quarter. Algert Global LLC now owns 7,402 shares of the company’s stock worth $257,000 after buying an additional 412 shares during the period. Franklin Resources Inc. raised its stake in shares of Biohaven by 0.5% during the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock valued at $4,206,000 after acquiring an additional 412 shares in the last quarter. KBC Group NV raised its stake in shares of Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Biohaven by 6.1% in the second quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock valued at $286,000 after purchasing an additional 480 shares during the period. Finally, Venturi Wealth Management LLC grew its stake in Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after purchasing an additional 500 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

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.