Biohaven (NYSE:BHVN) Hits New 12-Month High Following Analyst Upgrade

Posted by ABMN Staff on Mar 2nd, 2024

Biohaven Ltd. (NYSE:BHVN – Get Free Report) reached a new 52-week high on Friday after TD Cowen raised their price target on the stock from $35.00 to $55.00. TD Cowen currently has an outperform rating on the stock. Biohaven traded as high as $51.78 and last traded at $51.31, with a volume of 549018 shares. The stock had previously closed at $48.14.

BHVN has been the topic of a number of other research reports. Royal Bank of Canada assumed coverage on shares of Biohaven in a research report on Friday, February 16th. They issued an “outperform” rating and a $62.00 target price on the stock. HC Wainwright assumed coverage on shares of Biohaven in a report on Friday, December 22nd. They issued a “buy” rating and a $50.00 price objective on the stock. UBS Group initiated coverage on shares of Biohaven in a report on Tuesday, February 6th. They issued a “buy” rating and a $59.00 target price for the company. JPMorgan Chase & Co. boosted their target price on Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Finally, Piper Sandler raised their price target on Biohaven from $29.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 15th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $48.22.

Get Our Latest Stock Report on BHVN

Insider Activity at Biohaven

In other Biohaven news, Director Irina Antonijevic sold 11,000 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $41.79, for a total value of $459,690.00. Following the completion of the transaction, the director now owns 2,535 shares of the company’s stock, valued at approximately $105,937.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.40% of the company’s stock.

Institutional Investors Weigh In On Biohaven

Large investors have recently bought and sold shares of the stock. Perceptive Advisors LLC purchased a new position in Biohaven in the second quarter worth approximately $7,674,000. Monashee Investment Management LLC grew its stake in shares of Biohaven by 80.0% during the third quarter. Monashee Investment Management LLC now owns 90,000 shares of the company’s stock worth $2,341,000 after purchasing an additional 40,000 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in Biohaven by 80.8% in the third quarter. Rafferty Asset Management LLC now owns 342,861 shares of the company’s stock valued at $8,918,000 after buying an additional 153,271 shares during the last quarter. Profund Advisors LLC raised its stake in Biohaven by 65.2% in the third quarter. Profund Advisors LLC now owns 57,514 shares of the company’s stock valued at $1,496,000 after buying an additional 22,695 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in Biohaven by 110.4% during the 3rd quarter. TD Asset Management Inc now owns 210,746 shares of the company’s stock worth $5,482,000 after buying an additional 110,573 shares during the last quarter. Hedge funds and other institutional investors own 89.60% of the company’s stock.

Biohaven Trading Up 2.9 %

The firm has a market cap of $3.97 billion, a PE ratio of -6.91 and a beta of 1.20. The business has a fifty day moving average price of $45.55 and a 200 day moving average price of $32.86.

Biohaven Company Profile

(Get Free Report)

Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing therapies for patients with debilitating neurological and neuropsychiatric diseases in the United States. The company’s pipeline products include BHV-7000, a potassium channel activator for the treatment of focal epilepsy; BHV-7010, a Kv7 channel modulator for the treatment of different neurological diseases; Troriluzole, a tripeptide prodrug that is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500, a low-trapping glutamate N-methyl-D-aspartate receptor antagonist for neuropathic pain; and Verdiperstat, an oral myeloperoxidase inhibitor, which is in Phase 3 clinical trial for the treatment of neurodegenerative diseases.

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