Brokerages Set Biohaven Ltd. (NYSE:BHVN) PT at $59.46

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have been assigned a consensus recommendation of "Buy" from the fifteen brokerages that are covering the stock, MarketBeat 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 12 month target price among brokers that have issued a report on the stock in the last year is $59.46.

A number of analysts have recently weighed in on BHVN shares. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the stock a "buy" rating in a research note on Thursday, March 20th. Royal Bank of Canada lowered shares of Biohaven from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $54.00 to $21.00 in a research note on Monday, May 19th. Morgan Stanley reduced their price target on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Cantor Fitzgerald raised shares of Biohaven to a "strong-buy" rating in a research note on Tuesday, May 13th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th.

Insider Activity

In related news, Director John W. Childs acquired 32,700 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, the director now owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its stake in Biohaven by 40.0% in the 4th quarter. Ameriprise Financial Inc. now owns 508,682 shares of the company's stock valued at $18,994,000 after buying an additional 145,331 shares during the period. Teacher Retirement System of Texas increased its stake in shares of Biohaven by 31.6% during the 4th quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company's stock worth $871,000 after purchasing an additional 5,600 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Biohaven by 9.1% during the 4th quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company's stock worth $11,021,000 after purchasing an additional 24,703 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Biohaven by 9.5% during the 4th quarter. American Century Companies Inc. now owns 558,761 shares of the company's stock worth $20,870,000 after purchasing an additional 48,286 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Biohaven by 6.6% during the 4th quarter. Alliancebernstein L.P. now owns 96,236 shares of the company's stock worth $3,594,000 after purchasing an additional 5,951 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

Biohaven Trading Down 1.1%

Biohaven stock traded down $0.16 during midday trading on Monday, reaching $14.90. 1,816,654 shares of the stock traded hands, compared to its average volume of 1,532,104. The firm has a fifty day moving average price of $20.18 and a two-hundred day moving average price of $32.33. The firm has a market cap of $1.52 billion, a price-to-earnings ratio of -1.59 and a beta of 1.18. Biohaven has a fifty-two week low of $14.50 and a fifty-two week high of $55.70.

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

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.