William Blair upgraded shares of Biohaven (NYSE:BHVN - Free Report) to a strong-buy rating in a report released on Thursday, April 24th,Zacks.com reports.
Several other research analysts also recently issued reports on BHVN. Morgan Stanley lowered their price objective on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. dropped their price objective 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. Royal Bank of Canada restated an "outperform" rating and issued a $61.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Finally, HC Wainwright restated a "buy" rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Biohaven has an average rating of "Buy" and an average target price of $62.54.
Read Our Latest Research Report on Biohaven
Biohaven Stock Up 2.3 %
Shares of NYSE:BHVN traded up $0.51 during mid-day trading on Thursday, reaching $22.63. 432,035 shares of the stock were exchanged, compared to its average volume of 1,147,752. The company has a market cap of $2.31 billion, a P/E ratio of -2.41 and a beta of 1.33. Biohaven has a one year low of $15.79 and a one year high of $55.70. The stock's 50 day simple moving average is $25.44 and its 200-day simple moving average is $36.98.
Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.29). Analysts anticipate that Biohaven will post -8.9 EPS for the current fiscal year.
Insider Activity at Biohaven
In other Biohaven news, Director John W. Childs purchased 32,700 shares of the stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price 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 approximately $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in BHVN. Parallel Advisors LLC increased its stake in shares of Biohaven by 319.8% during the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company's stock worth $33,000 after purchasing 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. US Bancorp DE raised its stake in shares of Biohaven by 36.7% in the fourth quarter. US Bancorp DE now owns 2,971 shares of the company's stock valued at $111,000 after acquiring an additional 798 shares in the last quarter. Finally, Quarry LP acquired a new stake in Biohaven in the fourth quarter valued at $112,000. Hedge funds and other institutional investors own 88.78% of the company's stock.
Biohaven Company Profile
(
Get Free Report)
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.
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