Analysts Set Biohaven Ltd. (NYSE:BHVN) Price Target at $33.21

Shares of Biohaven Ltd. (NYSE:BHVN) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eleven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $31.2143.

A number of research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $30.00 price objective (down previously from $54.00) on shares of Biohaven in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biohaven in a report on Monday. BTIG Research reissued a “buy” rating and set a $16.00 price target on shares of Biohaven in a research report on Tuesday. Bank of America cut Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Wednesday, November 5th. Finally, Morgan Stanley dropped their price objective on shares of Biohaven from $54.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday.

Insiders Place Their Bets

In related news, CAO George C. Clark acquired 17,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was bought at an average cost of $8.52 per share, with a total value of $144,840.00. Following the acquisition, the chief accounting officer directly owned 20,000 shares in the company, valued at approximately $170,400. The trade was a 566.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vlad Coric acquired 666,666 shares of the stock in a transaction that occurred on Thursday, November 13th. The stock was purchased at an average cost of $7.50 per share, with a total value of $4,999,995.00. Following the completion of the acquisition, the chief executive officer owned 1,195,275 shares of the company’s stock, valued at $8,964,562.50. The trade was a 126.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 4,416,999 shares of company stock valued at $33,144,833. Corporate insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in Biohaven in the third quarter worth $955,000. Alyeska Investment Group L.P. acquired a new stake in shares of Biohaven during the third quarter worth $3,002,000. Verition Fund Management LLC lifted its position in shares of Biohaven by 19.4% in the 3rd quarter. Verition Fund Management LLC now owns 146,180 shares of the company’s stock worth $2,194,000 after buying an additional 23,724 shares during the last quarter. Quantessence Capital LLC acquired a new position in shares of Biohaven in the 3rd quarter valued at about $945,000. Finally, Quarry LP bought a new stake in shares of Biohaven during the 3rd quarter valued at about $150,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $9.46 on Monday. The company has a 50-day simple moving average of $14.04 and a 200-day simple moving average of $14.90. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. The company has a market cap of $1.00 billion, a PE ratio of -1.24 and a beta of 1.10. Biohaven has a 12 month low of $7.48 and a 12 month high of $47.75.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, November 10th. The company reported ($1.64) EPS for the quarter, beating the consensus estimate of ($1.91) by $0.27. On average, equities analysts anticipate that Biohaven will post -8.9 earnings per share for the current year.

About Biohaven

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.