Biohaven (NYSE:BHVN) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Equities research analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Biohaven (NYSE:BHVN) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm set a “buy” rating and a $65.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 54.43% from the company’s current price.

Other research analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective (up from $58.00) on shares of Biohaven in a research report on Wednesday, December 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Finally, TD Cowen boosted their price objective on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $63.15.

Biohaven Stock Down 1.0 %

Shares of NYSE BHVN opened at $42.09 on Tuesday. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21. The firm’s fifty day moving average is $38.67 and its 200 day moving average is $42.63. The company has a market cap of $4.26 billion, a price-to-earnings ratio of -4.50 and a beta of 1.28.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Equities research analysts anticipate that Biohaven will post -8.9 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John W. Childs purchased 29,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the purchase, the director now directly owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Biohaven

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC bought a new position in Biohaven in the 3rd quarter worth about $50,000. Spire Wealth Management bought a new position in Biohaven during the 4th quarter valued at about $56,000. Values First Advisors Inc. bought a new position in Biohaven during the 3rd quarter valued at about $78,000. US Bancorp DE lifted its stake in Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after acquiring an additional 790 shares during the period. Finally, KBC Group NV lifted its stake in Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares during the period. Institutional investors own 88.78% of the company’s stock.

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.