Biohaven Ltd. (NYSE:BHVN) Director Buys $996,369.00 in Stock

Biohaven Ltd. (NYSE:BHVN) Director John W. Childs purchased 32,700 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was purchased at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the acquisition, the director now directly owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. The trade was a 1.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Biohaven Stock Performance

Shares of Biohaven stock opened at $29.87 on Friday. The firm has a 50-day simple moving average of $37.86 and a two-hundred day simple moving average of $42.50. The company has a market cap of $3.02 billion, a P/E ratio of -3.19 and a beta of 1.27. Biohaven Ltd. has a fifty-two week low of $26.80 and a fifty-two week high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). Equities research analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SpiderRock Advisors LLC acquired a new position in shares of Biohaven during the 3rd quarter worth about $620,000. Citigroup Inc. raised its position in shares of Biohaven by 125.8% during the 3rd quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock worth $5,992,000 after purchasing an additional 66,801 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Biohaven during the 3rd quarter worth about $1,339,000. JPMorgan Chase & Co. raised its position in shares of Biohaven by 85.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock worth $40,448,000 after purchasing an additional 372,737 shares during the last quarter. Finally, XTX Topco Ltd raised its position in shares of Biohaven by 278.5% during the 3rd quarter. XTX Topco Ltd now owns 32,510 shares of the company’s stock worth $1,625,000 after purchasing an additional 23,921 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Wall Street Analyst Weigh In

BHVN has been the topic of several analyst reports. TD Cowen lifted their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday. Morgan Stanley dropped their price objective on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Biohaven has an average rating of “Buy” and an average price target of $63.15.

Biohaven Company Profile

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.