Biohaven (NYSE:BHVN) Given New $57.00 Price Target at Robert W. Baird

Biohaven (NYSE:BHVN) had its price objective cut by equities research analysts at Robert W. Baird from $60.00 to $57.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 187.81% from the company’s current price.

Other research analysts have also issued research reports about the company. William Blair raised Biohaven to a “strong-buy” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. HC Wainwright reissued a “buy” rating and issued a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the stock a “buy” rating in a research note on Thursday, March 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $62.54.

Biohaven Stock Down 15.4 %

Shares of Biohaven stock opened at $19.81 on Monday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -2.12 and a beta of 1.33. Biohaven has a 52-week low of $15.79 and a 52-week high of $55.70. The company’s 50-day simple moving average is $26.44 and its 200-day simple moving average is $37.41.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). Equities research analysts anticipate that Biohaven will post -8.9 EPS for the current year.

Insider Activity

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $30.47 per share, with a total value of $996,369.00. Following the completion of the acquisition, the director now owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Teacher Retirement System of Texas raised its position in Biohaven by 31.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company’s stock worth $871,000 after acquiring an additional 5,600 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Biohaven by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company’s stock worth $11,021,000 after acquiring an additional 24,703 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Biohaven by 85.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock valued at $40,448,000 after buying an additional 372,737 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Biohaven by 9.5% during the 4th quarter. American Century Companies Inc. now owns 558,761 shares of the company’s stock valued at $20,870,000 after purchasing an additional 48,286 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Biohaven by 6.6% during the 4th quarter. Alliancebernstein L.P. now owns 96,236 shares of the company’s stock worth $3,594,000 after acquiring an additional 5,951 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

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.