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

Biohaven Ltd. (NYSE:BHVN - Get Free Report) has earned an average recommendation of "Buy" from the fifteen analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, twelve have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $59.46.

Several research firms have recently issued reports on BHVN. Royal Bank of Canada downgraded shares of Biohaven from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $54.00 to $21.00 in a report on Monday, May 19th. HC Wainwright restated a "buy" rating and set a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Robert W. Baird cut their price objective on shares of Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. cut their price target on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the stock a "buy" rating in a report on Thursday, March 20th.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $30.47 per share, with a total value of $996,369.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 16.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biohaven

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio acquired a new position in shares of Biohaven during the first quarter worth about $322,000. Intech Investment Management LLC grew its position in shares of Biohaven by 80.3% during the first quarter. Intech Investment Management LLC now owns 61,598 shares of the company's stock worth $1,481,000 after buying an additional 27,433 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Biohaven by 7.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 589,615 shares of the company's stock worth $14,174,000 after buying an additional 41,040 shares in the last quarter. Exome Asset Management LLC grew its position in shares of Biohaven by 41.7% during the first quarter. Exome Asset Management LLC now owns 39,900 shares of the company's stock worth $959,000 after buying an additional 11,741 shares in the last quarter. Finally, Infinitum Asset Management LLC grew its position in shares of Biohaven by 172.7% during the first quarter. Infinitum Asset Management LLC now owns 300,000 shares of the company's stock worth $7,212,000 after buying an additional 190,000 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Stock Down 1.9%

Shares of BHVN traded down $0.29 during mid-day trading on Monday, hitting $15.05. 1,593,571 shares of the company traded hands, compared to its average volume of 1,244,350. Biohaven has a 1-year low of $14.69 and a 1-year high of $55.70. The company has a market capitalization of $1.54 billion, a PE ratio of -1.61 and a beta of 1.18. The business has a 50 day moving average of $20.45 and a 200 day moving average of $32.45.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($2.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.50). As a group, research analysts expect that Biohaven will post -8.9 EPS for the current fiscal 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.