Biohaven Ltd. (NYSE:BHVN – Get Rating) has been given an average recommendation of "Hold" by the ten brokerages that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $95.17.
BHVN has been the topic of several research reports. Cowen lowered their price objective on shares of Biohaven to $25.00 in a research report on Monday, November 7th. Cowen set a $25.00 target price on shares of Biohaven in a report on Monday, November 7th. Cantor Fitzgerald raised shares of Biohaven from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $158.00 to $27.00 in a report on Wednesday, October 26th. Wedbush downgraded shares of Biohaven from an "outperform" rating to a "neutral" rating and set a $148.50 target price on the stock. in a report on Monday, August 8th. Finally, Piper Sandler lowered their target price on shares of Biohaven from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, October 26th.
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Biohaven Stock Performance
Shares of Biohaven stock opened at $15.85 on Wednesday. Biohaven has a 1 year low of $5.54 and a 1 year high of $17.39. The company has a market capitalization of $1.08 billion, a P/E ratio of -1.14 and a beta of 1.01. The company's fifty day moving average is $44.16 and its two-hundred day moving average is $110.20.
Biohaven (NYSE:BHVN – Get Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($1.75) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.53) by $0.78. As a group, equities analysts expect that Biohaven will post -11.54 earnings per share for the current year.
Insider Activity at Biohaven
In related news, CEO Vlad Coric acquired 25,800 shares of Biohaven stock in a transaction that occurred on Monday, October 31st. The stock was purchased at an average price of $15.97 per share, for a total transaction of $412,026.00. Following the completion of the purchase, the chief executive officer now directly owns 1,543,394 shares of the company's stock, valued at $24,648,002.18. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other Biohaven news, Director Gregory Bailey bought 200,000 shares of the business's stock in a transaction on Tuesday, October 25th. The stock was bought at an average price of $10.50 per share, for a total transaction of $2,100,000.00. Following the completion of the transaction, the director now owns 1,507,971 shares in the company, valued at approximately $15,833,695.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Vlad Coric bought 25,800 shares of the business's stock in a transaction on Monday, October 31st. The shares were acquired at an average price of $15.97 per share, with a total value of $412,026.00. Following the transaction, the chief executive officer now owns 1,543,394 shares of the company's stock, valued at approximately $24,648,002.18. The disclosure for this purchase can be found here. Insiders purchased 1,263,967 shares of company stock worth $13,596,014 over the last 90 days. Company insiders own 12.40% of the company's stock.
Hedge Funds Weigh In On Biohaven
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its position in shares of Biohaven by 38.1% in the first quarter. Nisa Investment Advisors LLC now owns 3,702 shares of the company's stock valued at $439,000 after buying an additional 1,021 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of Biohaven by 24.9% in the first quarter. Park Avenue Securities LLC now owns 2,122 shares of the company's stock valued at $252,000 after buying an additional 423 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Biohaven by 12.5% in the first quarter. Envestnet Asset Management Inc. now owns 29,849 shares of the company's stock valued at $3,539,000 after buying an additional 3,305 shares during the last quarter. Banque Pictet & Cie SA raised its position in shares of Biohaven by 4.0% in the first quarter. Banque Pictet & Cie SA now owns 16,400 shares of the company's stock valued at $1,945,000 after buying an additional 636 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in shares of Biohaven by 6.8% in the first quarter. Commonwealth Equity Services LLC now owns 6,253 shares of the company's stock valued at $741,000 after buying an additional 397 shares during the last quarter. Institutional investors and hedge funds own 78.19% of the company's stock.
Biohaven Company Profile
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Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering and developing therapies for patients with debilitating neurological and neuropsychiatric diseases in the United States. The company's pipeline products include BHV-7000, a potassium channel activator for the treatment of focal epilepsy; Troriluzole, a tripeptide prodrug that is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500, a low-trapping glutamate N-methyl-D-aspartate receptor antagonist for neuropathic pain; and Verdiperstat, an irreversible myeloperoxidase enzyme inhibitor for the treatment of neurodegenerative diseases.
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