Biohaven Ltd. (NYSE:BHVN) Receives $59.46 Consensus Target Price from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have earned an average rating of "Buy" from the fifteen research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $59.46.

BHVN has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised Biohaven to a "strong-buy" rating in a report on Tuesday, May 13th. William Blair raised Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Morgan Stanley decreased their target price on Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Robert W. Baird decreased their target price on Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on Biohaven and gave the company a "buy" rating in a research note on Thursday, March 20th.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now owns 2,320,571 shares of the company's stock, valued at approximately $70,707,798.37. This represents a 1.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 16.00% of the company's stock.

Hedge Funds Weigh In On Biohaven

A number of institutional investors have recently modified their holdings of BHVN. Barclays PLC raised its holdings in shares of Biohaven by 87.6% during the 3rd quarter. Barclays PLC now owns 268,077 shares of the company's stock worth $13,396,000 after buying an additional 125,189 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of Biohaven by 32.9% during the 4th quarter. Inspire Investing LLC now owns 10,895 shares of the company's stock worth $407,000 after buying an additional 2,698 shares in the last quarter. KBC Group NV raised its holdings in shares of Biohaven by 50.1% during the 4th quarter. KBC Group NV now owns 3,377 shares of the company's stock worth $126,000 after buying an additional 1,127 shares in the last quarter. FSC Wealth Advisors LLC raised its holdings in shares of Biohaven by 3.3% during the 4th quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company's stock worth $579,000 after buying an additional 500 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Biohaven during the 4th quarter worth $575,000. Institutional investors and hedge funds own 88.78% of the company's stock.

Biohaven Trading Down 2.0%

Shares of NYSE:BHVN traded down $0.31 during trading on Monday, hitting $15.33. 2,449,602 shares of the company's stock traded hands, compared to its average volume of 1,242,950. The company has a 50-day moving average price of $20.45 and a 200-day moving average price of $32.45. Biohaven has a 52 week low of $14.69 and a 52 week high of $55.70. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -1.64 and a beta of 1.18.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). On average, analysts predict that Biohaven will post -8.9 earnings per share for the current fiscal year.

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.