Biohaven (NYSE:BHVN) Trading Down 9.9% – Should You Sell?

Biohaven Ltd. (NYSE:BHVN) dropped 9.9% during mid-day trading on Monday . The company traded as low as $24.42 and last traded at $24.91. Approximately 303,832 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,068,588 shares. The stock had previously closed at $27.65.

Analyst Ratings Changes

Several research firms have commented on BHVN. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the stock a “buy” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. decreased their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and set a $54.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. Finally, Morgan Stanley lowered their target price on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $62.77.

Biohaven Price Performance

The stock has a market capitalization of $2.45 billion, a PE ratio of -2.54 and a beta of 1.27. The stock’s 50 day moving average is $35.15 and its two-hundred day moving average is $41.40.

Biohaven (NYSE:BHVN) last posted its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($1.56) by ($0.29). On average, equities analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insider Buying and Selling at Biohaven

In other news, Director John W. Childs purchased 32,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, the director now directly owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This represents a 1.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biohaven

Several hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in shares of Biohaven by 160.7% in the 4th quarter. Wellington Management Group LLP now owns 634,055 shares of the company’s stock valued at $23,682,000 after purchasing an additional 390,888 shares during the last quarter. California State Teachers Retirement System raised its position in Biohaven by 10.4% during the 4th quarter. California State Teachers Retirement System now owns 74,144 shares of the company’s stock worth $2,769,000 after buying an additional 7,005 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Biohaven in the 4th quarter worth $449,000. Infinitum Asset Management LLC acquired a new position in Biohaven during the 4th quarter worth approximately $4,108,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Biohaven by 7.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 548,575 shares of the company’s stock worth $20,489,000 after acquiring an additional 39,953 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

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.