UBS Group Cuts Biohaven (NYSE:BHVN) Price Target to $54.00

Biohaven (NYSE:BHVN) had its price target trimmed by UBS Group from $55.00 to $54.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently weighed in on BHVN. HC Wainwright reiterated a buy rating and issued a $59.00 price target on shares of Biohaven in a research report on Thursday, May 30th. Royal Bank of Canada reiterated an outperform rating and issued a $59.00 price target on shares of Biohaven in a research report on Tuesday, June 18th. Morgan Stanley assumed coverage on shares of Biohaven in a research report on Wednesday, July 24th. They issued an overweight rating and a $58.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an overweight rating on shares of Biohaven in a research report on Monday. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Biohaven presently has an average rating of Buy and an average price target of $54.38.

Biohaven Trading Up 3.2 %

Biohaven stock opened at $39.32 on Tuesday. Biohaven has a 1 year low of $16.45 and a 1 year high of $62.21. The company has a market cap of $3.47 billion, a PE ratio of -5.76 and a beta of 1.32. The company’s 50-day moving average is $36.00 and its two-hundred day moving average is $42.60.

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

Insiders Place Their Bets

In related news, Director John W. Childs bought 28,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of $35.58 per share, for a total transaction of $996,240.00. Following the acquisition, the director now owns 2,311,341 shares of the company’s stock, valued at approximately $82,237,512.78. The purchase was disclosed in a filing with the SEC, which is available at this link. In other Biohaven news, Director John W. Childs purchased 28,400 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average cost 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John W. Childs purchased 28,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were acquired at an average cost of $35.58 per share, with a total value of $996,240.00. Following the completion of the purchase, the director now directly owns 2,311,341 shares in the company, valued at $82,237,512.78. The disclosure for this purchase can be found here. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its stake in shares of Biohaven by 12.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 183,772 shares of the company’s stock worth $6,379,000 after acquiring an additional 20,154 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Biohaven by 234.3% during the 2nd quarter. AQR Capital Management LLC now owns 54,361 shares of the company’s stock worth $1,887,000 after acquiring an additional 38,101 shares in the last quarter. Armistice Capital LLC grew its stake in shares of Biohaven by 74.8% during the 2nd quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock worth $48,489,000 after acquiring an additional 597,705 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Biohaven in the second quarter valued at $592,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Biohaven in the second quarter valued at $3,398,000. 88.78% of the stock is 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.