The target price for Biohaven (NYSE:BHVN) has surged to 56.61 per share, marking a substantial 29.07% increase from the previous estimate dated January 16, 2024.
Analysts’ price targets vary, with a low of 35.35 and a high of 69.30 per share. This new average represents a 19.66% increase from Biohaven’s latest closing price of 47.31 per share.
The Fund Sentiment: A Bullish Outlook
Currently, 445 funds or institutions hold positions in Biohaven, reflecting a 6.97% increase from the last quarter. The average portfolio weight dedicated to BHVN is 0.36%, down by 8.82%. Institutions now own 78,374K shares, a 6.50% rise in the last three months.
The put/call ratio for BHVN stands at 0.26, indicating an optimistic sentiment among investors.
Insider Movements: Institutional Changes
Stifel Financial has increased its ownership in Biohaven to 7.76%, owning 6,226K shares. The firm decreased its portfolio allocation by 61.84% over the last quarter.
Janus Henderson Group now holds 5,901K shares, representing 7.36% ownership. They boosted their allocation by 45.63% in the previous quarter.
Suvretta Capital Management increased its stake to 5.70% ownership with 4,573K shares, up by 57.18% recently.
Price T Rowe Associates’ ownership now stands at 3.91%, with 3,134K shares, marking a significant increase of 101.82%.
RP Management retains 3.66% ownership with 2,937K shares, with no changes in the last quarter.
Background on Biohaven
Biohaven Pharmaceutical Holding Company Ltd. is committed to improving the lives of patients with neurological and neuropsychiatric diseases. Their portfolio includes NURTEC ODT for migraines and promising late-stage candidates for various disorders.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
