Brokerages Set Biohaven Ltd. (NYSE:BHVN) Target Price at $62.54

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have earned a consensus rating of "Buy" from the fifteen brokerages that are currently covering the stock, MarketBeat reports. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $62.54.

A number of research analysts have issued reports on BHVN shares. HC Wainwright restated a "buy" rating and set a $54.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. Robert W. Baird cut their target price on Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 target price on shares of Biohaven in a report on Tuesday, March 4th.

Biohaven Price Performance

Biohaven stock traded up $0.31 during trading hours on Thursday, reaching $22.76. The stock had a trading volume of 2,101,533 shares, compared to its average volume of 1,157,076. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -2.43 and a beta of 1.18. The business's 50 day moving average price is $24.91 and its 200-day moving average price is $36.47. Biohaven has a 52 week low of $15.79 and a 52 week high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29). On average, sell-side analysts forecast that Biohaven will post -8.9 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in Biohaven by 319.8% during the 1st quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock worth $33,000 after buying an additional 1,036 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Biohaven in the fourth quarter valued at $56,000. Amalgamated Bank raised its stake in shares of Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock valued at $109,000 after acquiring an additional 527 shares in the last quarter. KBC Group NV boosted its holdings in Biohaven by 35.0% in the first quarter. KBC Group NV now owns 4,560 shares of the company's stock valued at $110,000 after purchasing an additional 1,183 shares during the period. Finally, US Bancorp DE increased its holdings in Biohaven by 36.7% during the 4th quarter. US Bancorp DE now owns 2,971 shares of the company's stock worth $111,000 after purchasing an additional 798 shares during the period. 88.78% of the stock is currently owned by hedge funds and other 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.