Biohaven (NYSE:BHVN) Shares Up 4.4% – Time to Buy?

Biohaven Ltd. (NYSE:BHVN) shot up 4.4% on Thursday . The company traded as high as $19.49 and last traded at $19.50. 100,953 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,112,373 shares. The stock had previously closed at $18.68.

Analyst Upgrades and Downgrades

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

Biohaven Price Performance

The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -2.08 and a beta of 1.33. The business has a fifty day moving average of $29.23 and a 200 day moving average of $38.98.

Biohaven (NYSE:BHVN) last announced its quarterly 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, analysts expect that Biohaven Ltd. will post -8.9 EPS for the current year.

Insiders Place Their Bets

In other news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the purchase, the director now owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Biohaven by 319.8% in the first quarter. Parallel Advisors LLC now owns 1,360 shares of the company’s stock valued at $33,000 after purchasing an additional 1,036 shares during the last quarter. Spire Wealth Management acquired a new stake in Biohaven in the 4th quarter valued at approximately $56,000. Amalgamated Bank increased its position in Biohaven by 21.9% in the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock worth $109,000 after buying an additional 527 shares during the period. US Bancorp DE lifted its holdings in shares of Biohaven by 36.7% during the fourth quarter. US Bancorp DE now owns 2,971 shares of the company’s stock worth $111,000 after buying an additional 798 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Biohaven in the fourth quarter valued at approximately $112,000. 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.