Biohaven Ltd. (NYSE:BHVN) Given Consensus Rating of "Buy" by Brokerages

Biohaven Ltd. (NYSE:BHVN - Get Free Report) has been assigned an average recommendation of "Buy" from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $51.63.

Several research firms recently weighed in on BHVN. JPMorgan Chase & Co. lifted their target price on Biohaven from $32.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, February 23rd. Royal Bank of Canada restated an "outperform" rating and set a $61.00 target price on shares of Biohaven in a research note on Tuesday, April 9th. HC Wainwright lowered their price objective on Biohaven from $63.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday. TD Cowen lifted their target price on Biohaven from $35.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, March 1st. Finally, UBS Group boosted their target price on shares of Biohaven from $59.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday, April 23rd.

Biohaven Stock Performance

Shares of BHVN traded up $1.37 on Thursday, reaching $38.45. The stock had a trading volume of 587,967 shares, compared to its average volume of 1,243,853. The company has a 50-day simple moving average of $48.06 and a 200-day simple moving average of $43.04. The firm has a market capitalization of $3.39 billion, a price-to-earnings ratio of -5.43 and a beta of 1.26. Biohaven has a 12-month low of $13.53 and a 12-month high of $62.21.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.40). On average, analysts expect that Biohaven will post -5.79 EPS for the current fiscal year.

Insider Activity at Biohaven

In related news, CEO Vlad Coric purchased 121,951 shares of the business's stock in a transaction dated Monday, April 22nd. The shares were acquired at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the acquisition, the chief executive officer now owns 1,788,417 shares of the company's stock, valued at approximately $73,325,097. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Biohaven news, CEO Vlad Coric purchased 121,951 shares of the business's stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average price of $41.00 per share, for a total transaction of $4,999,991.00. Following the acquisition, the chief executive officer now owns 1,788,417 shares in the company, valued at $73,325,097. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Bailey acquired 48,780 shares of the company's stock in a transaction dated Monday, April 22nd. The stock was acquired at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the completion of the acquisition, the director now directly owns 1,574,568 shares in the company, valued at $64,557,288. The disclosure for this purchase can be found here. Insiders have acquired a total of 224,734 shares of company stock valued at $9,001,524 over the last ninety days. 16.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biohaven

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BHVN. Kennedy Capital Management LLC purchased a new stake in shares of Biohaven in the 1st quarter valued at $12,099,000. Darwin Global Management Ltd. purchased a new position in Biohaven in the first quarter worth approximately $80,776,000. Bellevue Group AG grew its holdings in Biohaven by 7.0% during the 1st quarter. Bellevue Group AG now owns 1,150,000 shares of the company's stock worth $62,894,000 after acquiring an additional 75,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Biohaven by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company's stock valued at $183,050,000 after purchasing an additional 212,699 shares during the last quarter. Finally, Hood River Capital Management LLC lifted its position in shares of Biohaven by 3.8% during the 1st quarter. Hood River Capital Management LLC now owns 336,454 shares of the company's stock worth $18,401,000 after purchasing an additional 12,253 shares during the last quarter. Hedge funds and other institutional investors 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.