UBS Group Increases Biohaven (NYSE:BHVN) Price Target to $60.00

Biohaven (NYSE:BHVN - Free Report) had its price objective raised by UBS Group from $59.00 to $60.00 in a report published on Tuesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on BHVN. TD Cowen lifted their target price on Biohaven from $35.00 to $55.00 and gave the stock an outperform rating in a report on Friday, March 1st. JPMorgan Chase & Co. lifted their target price on Biohaven from $32.00 to $56.00 and gave the stock an overweight rating in a report on Friday, February 23rd. Royal Bank of Canada reaffirmed an outperform rating and set a $61.00 target price on shares of Biohaven in a report on Tuesday, April 9th. Cantor Fitzgerald reiterated an overweight rating on shares of Biohaven in a research report on Thursday, April 18th. Finally, HC Wainwright lifted their price target on Biohaven from $50.00 to $63.00 and gave the company a buy rating in a research report on Monday, March 4th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $52.13.

Biohaven Price Performance

NYSE BHVN traded up $1.27 during trading on Tuesday, hitting $39.60. The company's stock had a trading volume of 2,087,127 shares, compared to its average volume of 1,254,032. The company has a market cap of $3.24 billion, a PE ratio of -7.00 and a beta of 1.18. The business's 50 day simple moving average is $51.63 and its 200-day simple moving average is $41.70. Biohaven has a fifty-two week low of $12.35 and a fifty-two week high of $62.21.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.40). Analysts expect that Biohaven will post -5.85 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vlad Coric purchased 121,951 shares of the company's stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the transaction, the chief executive officer now owns 1,788,417 shares of the company's stock, valued at $73,325,097. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Vlad Coric purchased 121,951 shares of the company's stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the transaction, the chief executive officer now owns 1,788,417 shares of the company's stock, valued at $73,325,097. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Bailey purchased 48,780 shares of the company's stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average price of $41.00 per share, with a total value of $1,999,980.00. Following the completion of the transaction, the director now directly owns 1,574,568 shares of the company's stock, valued at approximately $64,557,288. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company's stock.

Hedge Funds Weigh In On Biohaven

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cypress Wealth Services LLC acquired a new position in Biohaven during the first quarter worth $326,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Biohaven in the 4th quarter valued at $10,828,000. Goldman Sachs Group Inc. lifted its stake in shares of Biohaven by 8.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 945,715 shares of the company's stock valued at $40,477,000 after purchasing an additional 71,850 shares during the last quarter. Perceptive Advisors LLC lifted its stake in shares of Biohaven by 129.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company's stock valued at $73,832,000 after purchasing an additional 973,227 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new position in shares of Biohaven in the 4th quarter valued at $17,167,000. Institutional investors and hedge funds own 88.78% of the company's stock.

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.