Robert W. Baird Lowers Biohaven (NYSE:BHVN) Price Target to $57.00

Biohaven (NYSE:BHVN - Get Free Report) had its price target lowered by stock analysts at Robert W. Baird from $60.00 to $57.00 in a report released on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's target price indicates a potential upside of 153.01% from the company's previous close.

A number of other brokerages have also weighed in on BHVN. HC Wainwright reissued a "buy" rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. William Blair raised shares of Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. Morgan Stanley lowered their price target on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $62.54.

Biohaven Stock Performance

Shares of NYSE BHVN traded up $0.41 during mid-day trading on Monday, hitting $22.53. 1,605,643 shares of the stock were exchanged, compared to its average volume of 1,150,389. The company has a market cap of $2.30 billion, a P/E ratio of -2.41 and a beta of 1.33. The stock's fifty day simple moving average is $25.18 and its two-hundred day simple moving average is $36.77. Biohaven has a twelve month low of $15.79 and a twelve month 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 the consensus estimate of ($1.56) by ($0.29). As a group, equities research analysts predict that Biohaven will post -8.9 earnings per share for the current fiscal year.

Insider Activity at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired 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. The trade was 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 insiders.

Institutional Investors Weigh In On Biohaven

Institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC grew its stake in Biohaven by 6.1% in the fourth quarter. HighTower Advisors LLC now owns 5,870 shares of the company's stock valued at $219,000 after purchasing an additional 335 shares in the last quarter. Franklin Resources Inc. grew its stake in Biohaven by 0.5% in the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company's stock valued at $4,206,000 after purchasing an additional 412 shares in the last quarter. FSC Wealth Advisors LLC grew its stake in Biohaven by 3.3% in the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company's stock valued at $579,000 after purchasing an additional 500 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Biohaven by 9.4% in the fourth quarter. Prudential Financial Inc. now owns 5,980 shares of the company's stock valued at $223,000 after buying an additional 514 shares during the last quarter. Finally, Amalgamated Bank lifted its position 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 buying an additional 527 shares during the last quarter. 88.78% of the stock is owned by 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.