Mon Sep 23 23:13:26 UTC 2024: ## Biohaven’s Stock Price Target Raised by Leerink Partners

**New York, NY (MarketBeat News) -** Biohaven (NYSE:BHVN) saw its price target raised to $60.00 by equity researchers at Leerink Partners, representing a potential upside of 30.63% from the stock’s previous close. The brokerage currently maintains an “outperform” rating on the stock.

This optimistic outlook comes on the heels of several other positive reports from analysts. Royal Bank of Canada reaffirmed an “outperform” rating with a $59.00 price objective, while Morgan Stanley initiated coverage with an “overweight” rating and a $58.00 price target. William Blair upgraded Biohaven to a “strong-buy” rating, and Cantor Fitzgerald restated an “overweight” rating.

The company reported a loss of $3.64 per share for the quarter ending August 8th, missing analysts’ expectations of ($1.72). Despite the missed earnings, analysts remain optimistic about Biohaven’s future, predicting a -8.92 EPS for the current fiscal year.

In other news, Biohaven’s director, John W. Childs, purchased 28,400 shares of the company’s stock at an average price of $35.67 per share, signaling confidence in the company’s future.

Institutional investors have also been increasing their positions in Biohaven. Clearbridge Investments LLC, Quarry LP, Algert Global LLC, The Manufacturers Life Insurance Company, and AQR Capital Management LLC all significantly increased their holdings in the second quarter.

Biohaven is actively developing a pipeline of therapies for immunology, neuroscience, and oncology. The company’s lead products are in various stages of clinical trials, including Troriluzole for neurological and neuropsychiatric illnesses, Taldefgrobep Alfa for spinal muscular atrophy and obesity, and BHV-7000 for epilepsy, bipolar disorder, and major depressive disorder.

Overall, analysts are bullish on Biohaven’s prospects, with twelve investment analysts rating the stock as a buy and one rating it as a strong buy. The stock currently has an average rating of “Buy” with a consensus price target of $59.00.

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