Biohaven (NYSE:BHVN) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Biohaven (NYSE:BHVN) in a research report report published on Tuesday, Marketbeat reports. The firm issued a buy rating and a $65.00 price target on the stock.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective (up from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. HC Wainwright reaffirmed a “buy” rating and set a $59.00 target price on shares of Biohaven in a research note on Tuesday, December 17th. TD Cowen boosted their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $63.15.

Biohaven Stock Up 11.6 %

NYSE:BHVN opened at $42.67 on Tuesday. The business’s 50-day simple moving average is $38.75 and its two-hundred day simple moving average is $42.63. Biohaven has a 52 week low of $26.80 and a 52 week high of $62.21. The stock has a market cap of $4.31 billion, a PE ratio of -4.56 and a beta of 1.28.

Biohaven (NYSE:BHVN) last released its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). Sell-side analysts anticipate that Biohaven will post -8.9 earnings per share for the current fiscal year.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 29,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was bought at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the purchase, the director now directly owns 2,368,741 shares of the company’s stock, valued at $85,132,551.54. This represents a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 16.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Biohaven

A number of large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. raised its position in Biohaven by 745.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock worth $74,969,000 after purchasing an additional 1,322,922 shares during the period. Vanguard Group Inc. lifted its stake in shares of Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after acquiring an additional 628,211 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Biohaven by 563.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company’s stock worth $25,416,000 after acquiring an additional 431,954 shares during the last quarter. JPMorgan Chase & Co. grew its position in 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 acquiring an additional 372,737 shares during the last quarter. Finally, Emerald Advisers LLC bought a new position in Biohaven in the 4th quarter valued at $13,466,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

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.