Insider Buying: Biohaven Ltd. (NYSE:BHVN) CEO Purchases $4,999,991.00 in Stock

Biohaven Ltd. (NYSE:BHVN) CEO Vlad Coric acquired 121,951 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the transaction, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at $73,325,097. The purchase was disclosed in a filing with the SEC, which is available at the SEC website.

Biohaven Stock Performance

Shares of NYSE:BHVN opened at $38.54 on Friday. The stock’s 50-day simple moving average is $51.32 and its two-hundred day simple moving average is $41.79. Biohaven Ltd. has a 52-week low of $12.35 and a 52-week high of $62.21. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -6.81 and a beta of 1.18.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.40). As a group, equities analysts forecast that Biohaven Ltd. will post -5.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BHVN shares. HC Wainwright increased their price objective on Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, March 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Thursday, April 18th. TD Cowen increased their price objective on Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. UBS Group raised their target price on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a research report on Tuesday, April 9th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $52.13.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Thompson Davis & CO. Inc. bought a new position in shares of Biohaven in the fourth quarter worth about $214,000. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Biohaven in the fourth quarter worth about $230,000. Private Advisor Group LLC bought a new position in shares of Biohaven in the fourth quarter worth about $231,000. Capstone Investment Advisors LLC bought a new stake in Biohaven during the 4th quarter valued at approximately $235,000. Finally, Cypress Wealth Services LLC bought a new stake in Biohaven during the 1st quarter valued at approximately $326,000. Institutional investors own 88.78% of the company’s stock.

About Biohaven

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.