Morgan Stanley Cuts Biohaven (NYSE:BHVN) Price Target to $21.00

by · The Markets Daily

Biohaven (NYSE:BHVN – Free Report) had its target price lowered by Morgan Stanley from $26.00 to $21.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on the stock. HC Wainwright restated a “neutral” rating and set a $11.00 price target on shares of Biohaven in a report on Friday, December 26th. William Blair reissued a “market perform” rating on shares of Biohaven in a research report on Friday, December 26th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Biohaven in a research report on Wednesday, November 5th. Cowen reaffirmed a “buy” rating on shares of Biohaven in a research note on Wednesday, November 5th. Finally, BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Biohaven in a research note on Tuesday, November 18th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.57.

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Biohaven Trading Down 3.3%

NYSE:BHVN opened at $11.36 on Tuesday. The stock’s 50-day moving average is $10.25 and its two-hundred day moving average is $13.35. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. The stock has a market cap of $1.20 billion, a PE ratio of -1.49 and a beta of 1.14. Biohaven has a fifty-two week low of $7.48 and a fifty-two week high of $44.28.

Biohaven (NYSE:BHVN – Get Free Report) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.64) EPS for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.27. As a group, equities research analysts forecast that Biohaven will post -8.9 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Vlad Coric purchased 666,666 shares of the firm’s stock in a transaction on Thursday, November 13th. The stock was bought at an average cost of $7.50 per share, for a total transaction of $4,999,995.00. Following the completion of the acquisition, the chief executive officer directly owned 1,195,275 shares of the company’s stock, valued at approximately $8,964,562.50. The trade was a 126.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO George C. Clark purchased 17,000 shares of the stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost of $8.52 per share, for a total transaction of $144,840.00. Following the completion of the transaction, the chief accounting officer owned 20,000 shares of the company’s stock, valued at $170,400. The trade was a 566.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 4,416,999 shares of company stock worth $33,144,833 in the last 90 days. Insiders own 16.00% of the company’s stock.

Institutional Investors Weigh In On Biohaven

A number of institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Biohaven by 113.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after purchasing an additional 1,268 shares in the last quarter. PFS Partners LLC acquired a new stake in Biohaven during the third quarter worth $60,000. Elkhorn Partners Limited Partnership boosted its stake in Biohaven by 26.1% during the second quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock worth $82,000 after buying an additional 1,200 shares in the last quarter. Focus Partners Wealth bought a new stake in Biohaven in the 3rd quarter valued at $87,000. Finally, Virtus Investment Advisers LLC raised its stake in shares of Biohaven by 47.7% in the 2nd quarter. Virtus Investment Advisers LLC now owns 6,032 shares of the company’s stock valued at $85,000 after buying an additional 1,949 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Company Profile

(Get Free Report)

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.

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