Biohaven Pharmaceutical (BHVN) ‘Buy’ Rating Reaffirmed at HC Wainwright

Biohaven Pharmaceutical (NYSE: BHVN)HC’s stock had its “buy” rating restated by HC Wainwright research analysts in a research note issued to investors on Friday, TipRanks reports. They currently have a price target of $ 160.00 on the stock. HC Wainwright’s target price would indicate a potential rise of 21.39% from the company’s previous close.

A number of other brokerages have also weighed on BHVN. Goldman Sachs Group raised its price target on Biohaven Pharmaceutical shares from $ 151.00 to $ 170.00 and gave the company a “buy” rating in a report released on Wednesday, October 6. Piper Sandler raised her target price on Biohaven Pharmaceutical shares from $ 140.00 to $ 156.00 and rated the company as “overweight” in a research report published on Tuesday, October 5. Morgan Stanley raised its target price on shares of Biohaven Pharmaceutical from $ 145.00 to $ 148.00 and gave the company an “equal weight” rating in a research report on Friday. Cantor Fitzgerald raised his price target for Biohaven Pharmaceutical shares from $ 165.00 to $ 177.00 and assigned the company an “overweight” rating in a research report released on Wednesday, November 10. Finally, Mizuho raised its target price on Biohaven Pharmaceutical shares from $ 135.00 to $ 144.00 and gave the company a “buy” rating in a research report on Thursday, November 18. Three research analysts rated the stock with a conservation rating and nine gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $ 147.55.

NYSE BHVN traded up $ 0.71 on Friday, reaching $ 131.81. The stock had a trade volume of 8,680 shares, compared to its average volume of 627,411. The company’s fifty-day moving average price is $ 123.17 and its 200-day moving average price is $ 124.44. Biohaven Pharmaceutical has a 52-week low of $ 62.57 and a 52-week high of $ 151.51. The stock has a market cap of $ 8.63 billion, a price-to-earnings ratio of -9.63 and a beta of 1.03.

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Growing demand for lithium is driven by global demand for electric vehicles (EVs). Lithium is ideal for electric cars. It is light, stores a lot of energy and is rechargeable. Electric vehicle sales are expected to increase tenfold by 2030 and it is estimated that one in two cars sold will be electric by 2040.

Biohaven Pharmaceutical (NYSE: BHVN) last announced its quarterly earnings data on Monday, November 8. The company reported ($ 2.63) earnings per share for the quarter, missing analyst consensus estimates of ($ 2.40) from ($ 0.23). The company posted revenue of $ 135.74 million for the quarter, compared to $ 128.40 million expected by analysts. Biohaven Pharmaceutical’s revenue increased 668.5% year-on-year. In the same quarter of the previous year, the company achieved earnings per share ($ 3.27). On average, analysts expect Biohaven Pharmaceutical to post -12.33 EPS for the current fiscal year.

Separately, CAO George C. Clark sold 1,915 shares of the company in a transaction dated Monday, December 20. The shares were sold at an average price of $ 123.84, for a total trade of $ 237,153.60. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. Also, director John W. Childs bought 5,000 shares of the company in a transaction dated Wednesday, November 10. The stock was purchased at an average cost of $ 122.87 per share, for a total value of $ 614,350.00. Disclosure of this purchase can be found here. In the past ninety days, insiders have sold 133,099 shares of the company valued at $ 14,807,430. 15.20% of the shares are held by insiders.

Several hedge funds have recently changed their holdings in the company. Skandinaviska Enskilda Banken AB publ increased its stake in Biohaven Pharmaceutical by 48.5% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 177,493 shares of the company valued at $ 17,231,000 after purchasing an additional 57,957 shares in the last quarter. Cresset Asset Management LLC acquired a new stake in Biohaven Pharmaceutical during the 2nd quarter for a value of approximately $ 439,000. Ensign Peak Advisors Inc increased its holdings of shares of Biohaven Pharmaceutical by 20.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 79,461 shares of the company valued at $ 7,714,000 after purchasing an additional 13,653 shares during the last quarter. Virtu Financial LLC acquired a new stake in the shares of Biohaven Pharmaceutical in the second quarter valued at $ 467,000. Finally, Russell Investments Group Ltd. increased its stake in Biohaven Pharmaceutical shares by 87.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 53,892 shares of the company valued at $ 5,231,000 after purchasing an additional 25,103 shares in the last quarter. Hedge funds and other institutional investors hold 91.05% of the company’s shares.

Profile of the pharmaceutical company Biohaven

Biohaven Pharmaceutical Holding Co Ltd. is a clinical-stage biopharmaceutical company dedicated to the research and development of late-stage product candidates targeting neurological diseases, including rare diseases. It focuses on a pipeline of product candidates that represent mechanistic platforms, peptide receptor antagonists linked to the calcitonin gene, and glutamate modulators.

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Analyst Recommendations for Biohaven Pharmaceutical (NYSE: BHVN)

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