Biohaven Ltd. (NYSE:BHVN) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Biohaven Ltd. (NYSE:BHVN - Get Free Report) have received an average recommendation of "Buy" from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $62.54.

Several brokerages recently weighed in on BHVN. HC Wainwright reaffirmed a "buy" rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. William Blair upgraded Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. Finally, Morgan Stanley lowered their target price on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, March 7th.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Biohaven

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock valued at $314,267,000 after acquiring an additional 628,211 shares in the last quarter. Janus Henderson Group PLC boosted its position in Biohaven by 12.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company's stock valued at $260,735,000 after purchasing an additional 756,032 shares in the last quarter. Stifel Financial Corp grew its stake in Biohaven by 0.8% in the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company's stock valued at $244,990,000 after purchasing an additional 50,052 shares during the last quarter. Suvretta Capital Management LLC raised its holdings in Biohaven by 8.1% in the fourth quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company's stock worth $209,917,000 after purchasing an additional 421,052 shares in the last quarter. Finally, Farallon Capital Management LLC lifted its position in shares of Biohaven by 21.6% during the fourth quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company's stock valued at $165,392,000 after buying an additional 785,578 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Stock Performance

Shares of BHVN stock traded down $3.62 during mid-day trading on Thursday, hitting $19.00. The company's stock had a trading volume of 3,301,795 shares, compared to its average volume of 1,168,446. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -2.03 and a beta of 1.18. Biohaven has a 52-week low of $15.79 and a 52-week high of $55.70. The business has a 50-day moving average price of $24.26 and a 200 day moving average price of $36.04.

Biohaven (NYSE:BHVN - Get Free Report) last issued its earnings results 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). Equities research analysts predict 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.