UBS Group Boosts Biohaven (NYSE:BHVN) Price Target to $60.00

Biohaven (NYSE:BHVN) had its target price boosted by UBS Group from $59.00 to $60.00 in a research note issued to investors on Tuesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Biohaven from $32.00 to $56.00 and gave the company an overweight rating in a report on Friday, February 23rd. Cantor Fitzgerald reaffirmed an overweight rating on shares of Biohaven in a report on Thursday, April 18th. HC Wainwright lifted their price target on shares of Biohaven from $50.00 to $63.00 and gave the company a buy rating in a report on Monday, March 4th. Royal Bank of Canada reaffirmed an outperform rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday, April 9th. Finally, TD Cowen lifted their price target on shares of Biohaven from $35.00 to $55.00 and gave the company an outperform rating in a report on Friday, March 1st. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Biohaven currently has an average rating of Buy and an average price target of $52.13.

Biohaven Price Performance

Shares of NYSE BHVN opened at $38.54 on Tuesday. The stock has a market cap of $3.40 billion, a P/E ratio of -6.81 and a beta of 1.18. Biohaven has a 1 year low of $12.35 and a 1 year high of $62.21. The firm has a 50-day moving average of $51.32 and a 200 day moving average of $41.79.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). Research analysts expect that Biohaven will post -5.85 earnings per share for the current fiscal year.

Insider Activity at Biohaven

In related news, CEO Vlad Coric acquired 121,951 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the transaction, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at approximately $73,325,097. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gregory Bailey bought 48,780 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, with a total value of $1,999,980.00. Following the acquisition, the director now directly owns 1,574,568 shares in the company, valued at $64,557,288. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Vlad Coric purchased 121,951 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the acquisition, the chief executive officer now owns 1,788,417 shares in the company, valued at approximately $73,325,097. The disclosure for this purchase can be found here. Insiders purchased 196,234 shares of company stock valued at $7,999,179 in the last three months. 16.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Biohaven

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its holdings in Biohaven by 4.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 16,486 shares of the company’s stock valued at $429,000 after buying an additional 746 shares during the period. Raymond James & Associates boosted its holdings in shares of Biohaven by 3.5% in the fourth quarter. Raymond James & Associates now owns 28,499 shares of the company’s stock valued at $1,220,000 after acquiring an additional 954 shares during the period. Swiss National Bank boosted its holdings in shares of Biohaven by 1.0% in the third quarter. Swiss National Bank now owns 127,500 shares of the company’s stock valued at $3,316,000 after acquiring an additional 1,300 shares during the period. Weybosset Research & Management LLC boosted its holdings in shares of Biohaven by 12.4% in the fourth quarter. Weybosset Research & Management LLC now owns 13,640 shares of the company’s stock valued at $584,000 after acquiring an additional 1,500 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Biohaven by 5.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,094 shares of the company’s stock valued at $1,716,000 after acquiring an additional 2,023 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

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.