Biohaven’s (BHVN) “Overweight” Rating Reiterated at Cantor Fitzgerald

by · The Markets Daily

Cantor Fitzgerald restated their overweight rating on shares of Biohaven (NYSE:BHVN – Free Report) in a research report released on Wednesday morning, Benzinga reports.

Several other analysts have also recently commented on BHVN. JPMorgan Chase & Co. increased their price target on shares of Biohaven from $32.00 to $56.00 and gave the company an overweight rating in a research note on Friday, February 23rd. TD Cowen increased their price target on shares of Biohaven from $35.00 to $55.00 and gave the company an outperform rating in a research note on Friday, March 1st. UBS Group initiated coverage on shares of Biohaven in a research note on Tuesday, February 6th. They set a buy rating and a $59.00 price target on the stock. Royal Bank of Canada reissued an outperform rating and set a $61.00 price target on shares of Biohaven in a research note on Tuesday, April 9th. Finally, HC Wainwright increased their price target on shares of Biohaven from $50.00 to $63.00 and gave the company a buy rating in a research note on Monday, March 4th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $52.00.

Check Out Our Latest Research Report on Biohaven

Biohaven Trading Down 0.8 %

Shares of Biohaven stock opened at $53.08 on Wednesday. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of -9.38 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’s 50-day moving average price is $52.31 and its two-hundred day moving average price is $40.83.

Biohaven (NYSE:BHVN – Get Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.40). As a group, equities research analysts predict that Biohaven will post -5.85 EPS for the current year.

Hedge Funds Weigh In On Biohaven

A number of hedge funds and other institutional investors have recently bought and sold shares of BHVN. Capital World Investors raised its holdings in Biohaven by 7.5% in the first quarter. Capital World Investors now owns 6,642,539 shares of the company’s stock worth $787,606,000 after purchasing an additional 464,530 shares during the period. Stifel Financial Corp raised its holdings in Biohaven by 7.9% in the fourth quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock worth $266,465,000 after purchasing an additional 456,062 shares during the period. BlackRock Inc. raised its holdings in Biohaven by 0.5% in the first quarter. BlackRock Inc. now owns 4,656,866 shares of the company’s stock worth $552,163,000 after purchasing an additional 21,586 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Biohaven by 33.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,134,323 shares of the company’s stock worth $134,150,000 after purchasing an additional 791,181 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Biohaven by 142.2% in the fourth quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock worth $106,297,000 after purchasing an additional 1,458,072 shares during the period. 88.78% of the stock is owned by institutional investors.

Biohaven Company Profile

(Get Free Report)

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.

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