Cantor Fitzgerald Reaffirms "Overweight" Rating for Biohaven (NYSE:BHVN)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Biohaven (NYSE:BHVN - Free Report) in a report published on Thursday morning, Benzinga reports.

Several other analysts have also weighed in on BHVN. JPMorgan Chase & Co. lifted their price objective on Biohaven from $32.00 to $56.00 and gave the stock an overweight rating in a report on Friday, February 23rd. TD Cowen lifted their price objective on Biohaven from $35.00 to $55.00 and gave the stock an outperform rating in a report on Friday, March 1st. Royal Bank of Canada reissued an outperform rating and set a $61.00 price objective on shares of Biohaven in a report on Tuesday, April 9th. HC Wainwright boosted their price target on Biohaven from $50.00 to $63.00 and gave the company a buy rating in a research note on Monday, March 4th. Finally, UBS Group initiated coverage on Biohaven in a research note on Tuesday, February 6th. They issued a buy rating and a $59.00 price target on the stock. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $52.00.

Biohaven Stock Down 4.2 %

NYSE BHVN traded down $1.87 during trading on Thursday, hitting $42.16. The company's stock had a trading volume of 3,623,155 shares, compared to its average volume of 1,216,558. The firm has a 50 day moving average price of $52.03 and a 200 day moving average price of $41.24. The firm has a market cap of $3.44 billion, a P/E ratio of -7.45 and a beta of 1.18. Biohaven has a 52 week low of $12.35 and a 52 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) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.40). On average, equities analysts expect that Biohaven will post -5.85 earnings per share for the current year.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently bought and sold shares of the business. Cypress Wealth Services LLC bought a new position in Biohaven in the 1st quarter valued at $326,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Biohaven in the 4th quarter valued at $10,828,000. Vanguard Group Inc. raised its position in Biohaven by 16.0% in the 4th quarter. Vanguard Group Inc. now owns 1,658,151 shares of the company's stock valued at $70,969,000 after purchasing an additional 229,168 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Biohaven during the fourth quarter worth $593,000. Finally, Goldman Sachs Group Inc. raised its position in shares of Biohaven by 8.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 945,715 shares of the company's stock worth $40,477,000 after acquiring an additional 71,850 shares during the last quarter. Institutional investors own 88.78% of the company's stock.

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.