Biohaven’s (BHVN) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Biohaven (NYSE:BHVNFree Report) in a report published on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has a $59.00 price objective on the stock.

A number of other equities research analysts have also recently issued reports on BHVN. UBS Group raised their target price on Biohaven from $59.00 to $60.00 and gave the company a buy rating in a research note on Tuesday, April 23rd. HC Wainwright restated a buy rating and issued a $59.00 target price on shares of Biohaven in a research report on Thursday, May 30th. 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 note on Friday, February 23rd. TD Cowen increased their price target on Biohaven from $35.00 to $55.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Finally, Cantor Fitzgerald restated an overweight rating on shares of Biohaven in a research note on Thursday, May 30th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $54.71.

Check Out Our Latest Stock Analysis on BHVN

Biohaven Price Performance

Shares of BHVN opened at $33.44 on Tuesday. The stock has a market capitalization of $2.95 billion, a PE ratio of -4.90 and a beta of 1.21. The business’s fifty day moving average price is $37.69 and its 200 day moving average price is $43.90. Biohaven has a 12-month low of $16.45 and a 12-month high of $62.21.

Biohaven (NYSE:BHVNGet Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.70). As a group, research analysts anticipate that Biohaven will post -7.16 earnings per share for the current fiscal year.

Insider Transactions at Biohaven

In other Biohaven news, CEO Vlad Coric acquired 121,951 shares of Biohaven stock in a transaction dated Monday, April 22nd. The stock was bought at an average price of $41.00 per share, for a total transaction of $4,999,991.00. Following the transaction, the chief executive officer now owns 1,788,417 shares in the company, valued at approximately $73,325,097. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Vlad Coric bought 121,951 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was bought at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,788,417 shares in the company, valued at approximately $73,325,097. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, Director John W. Childs purchased 28,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were purchased at an average price of $35.58 per share, for a total transaction of $996,240.00. Following the acquisition, the director now directly owns 2,311,341 shares of the company’s stock, valued at $82,237,512.78. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 252,734 shares of company stock valued at $9,997,764. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Several institutional investors and hedge funds have recently bought and sold shares of BHVN. Perceptive Advisors LLC increased its stake in 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 buying an additional 973,227 shares during the period. Simon Quick Advisors LLC raised its holdings in shares of Biohaven by 36.3% during the 4th quarter. Simon Quick Advisors LLC now owns 74,968 shares of the company’s stock valued at $3,209,000 after purchasing an additional 19,968 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Biohaven by 20.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,904 shares of the company’s stock valued at $22,209,000 after purchasing an additional 86,890 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of Biohaven by 27.9% in the 4th quarter. New York State Common Retirement Fund now owns 41,276 shares of the company’s stock valued at $1,767,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in Biohaven by 97.9% in the third quarter. Citigroup Inc. now owns 146,907 shares of the company’s stock worth $3,821,000 after purchasing an additional 72,673 shares in the last quarter. 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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