Biohaven (NYSE:BHVN) Price Target Raised to $60.00

Biohaven (NYSE:BHVN) had its price target upped by UBS Group from $59.00 to $60.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 48.40% from the stock’s previous close.

BHVN has been the topic of several other reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a research note on Tuesday, April 9th. TD Cowen lifted their target price on shares of Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. HC Wainwright raised their price target on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $52.13.

Biohaven Stock Performance

BHVN traded up $2.10 during midday trading on Tuesday, reaching $40.43. The company had a trading volume of 934,875 shares, compared to its average volume of 1,238,368. The business has a 50-day moving average price of $51.63 and a two-hundred day moving average price of $41.70. The stock has a market cap of $3.31 billion, a PE ratio of -7.22 and a beta of 1.18. Biohaven has a 12-month low of $12.35 and a 12-month high of $62.21.

Biohaven (NYSE:BHVN) last released its quarterly earnings data 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, research analysts anticipate that Biohaven will post -5.85 earnings per share for the current year.

Insider Activity at Biohaven

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 acquired at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Gregory Bailey purchased 48,780 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 1,574,568 shares in the company, valued at approximately $64,557,288. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vlad Coric purchased 121,951 shares of the firm’s stock in a transaction on 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 purchase, the chief executive officer now owns 1,788,417 shares in the company, valued at $73,325,097. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Biohaven

Several institutional investors have recently modified their holdings of BHVN. FSC Wealth Advisors LLC lifted its stake in shares of Biohaven by 50.0% in the 3rd quarter. FSC Wealth Advisors LLC now owns 15,000 shares of the company’s stock valued at $390,000 after purchasing an additional 5,000 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Biohaven by 104.3% during the 3rd quarter. Raymond James & Associates now owns 27,545 shares of the company’s stock worth $716,000 after acquiring an additional 14,065 shares during the last quarter. Weybosset Research & Management LLC lifted its stake in shares of Biohaven by 19.7% during the 3rd quarter. Weybosset Research & Management LLC now owns 12,140 shares of the company’s stock worth $316,000 after acquiring an additional 2,000 shares during the last quarter. Strs Ohio lifted its stake in shares of Biohaven by 99.2% during the 3rd quarter. Strs Ohio now owns 24,100 shares of the company’s stock worth $626,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Biohaven by 13.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,071 shares of the company’s stock worth $990,000 after acquiring an additional 4,540 shares during the last quarter. 88.78% of the stock is owned by institutional investors.

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.