Robert W. Baird Lowers Biohaven (NYSE:BHVN) Price Target to $57.00

Biohaven (NYSE:BHVN) had its target price cut by investment analysts at Robert W. Baird from $60.00 to $57.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 160.39% from the company’s current price.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the company a “buy” rating in a research note on Thursday, March 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. HC Wainwright reissued a “buy” rating and set a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Finally, Morgan Stanley dropped their target price on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Fourteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $62.54.

Biohaven Trading Up 0.7 %

NYSE BHVN opened at $21.89 on Monday. The stock has a 50-day moving average of $25.73 and a 200-day moving average of $37.08. Biohaven has a 1-year low of $15.79 and a 1-year high of $55.70. The firm has a market cap of $2.23 billion, a PE ratio of -2.34 and a beta of 1.33.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, equities research analysts forecast that Biohaven will post -8.9 earnings per share for the current fiscal year.

Insider Transactions at Biohaven

In other news, Director John W. Childs purchased 32,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This trade represents a 1.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Several institutional investors have recently added to or reduced their stakes in BHVN. Vanguard Group Inc. lifted its stake in Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock valued at $314,267,000 after acquiring an additional 628,211 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Biohaven by 12.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company’s stock valued at $260,735,000 after purchasing an additional 756,032 shares during the last quarter. Stifel Financial Corp lifted its position in Biohaven by 0.8% during the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company’s stock valued at $244,990,000 after purchasing an additional 50,052 shares during the period. Suvretta Capital Management LLC boosted its holdings in Biohaven by 8.1% in the fourth quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company’s stock worth $209,917,000 after purchasing an additional 421,052 shares during the last quarter. Finally, Farallon Capital Management LLC grew its position in Biohaven by 21.6% in the 4th quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company’s stock worth $165,392,000 after purchasing an additional 785,578 shares during the period. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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.