Gregory Bailey Purchases 400,000 Shares of Biohaven (NYSE:BHVN) Stock

Biohaven Ltd. (NYSE:BHVN) Director Gregory Bailey bought 400,000 shares of the business’s stock in a transaction on Thursday, November 13th. The stock was bought at an average cost of $7.50 per share, for a total transaction of $3,000,000.00. Following the purchase, the director directly owned 2,020,071 shares of the company’s stock, valued at approximately $15,150,532.50. This trade represents a 24.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Biohaven Trading Up 2.2%

Shares of Biohaven stock traded up $0.18 during trading on Monday, hitting $8.48. 438,220 shares of the company were exchanged, compared to its average volume of 2,169,439. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. The firm has a market capitalization of $897.80 million, a P/E ratio of -1.13 and a beta of 1.10. The firm’s fifty day moving average price is $14.36 and its 200 day moving average price is $15.13. Biohaven Ltd. has a 1-year low of $7.48 and a 1-year high of $47.75.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Monday, November 10th. The company reported ($1.64) earnings per share for the quarter, topping the consensus estimate of ($1.91) by $0.27. As a group, sell-side analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biohaven

Several large investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its stake in Biohaven by 87.5% during the 3rd quarter. Bank of America Corp DE now owns 788,331 shares of the company’s stock worth $11,833,000 after buying an additional 367,830 shares during the period. Algert Global LLC lifted its holdings in shares of Biohaven by 18.0% in the 3rd quarter. Algert Global LLC now owns 136,290 shares of the company’s stock worth $2,046,000 after purchasing an additional 20,750 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Biohaven in the 3rd quarter valued at $614,000. Creative Planning grew its position in Biohaven by 46.8% in the 3rd quarter. Creative Planning now owns 16,112 shares of the company’s stock valued at $242,000 after purchasing an additional 5,140 shares during the period. Finally, Raymond James Financial Inc. increased its stake in Biohaven by 182.2% during the 3rd quarter. Raymond James Financial Inc. now owns 92,045 shares of the company’s stock valued at $1,382,000 after purchasing an additional 59,431 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Analyst Upgrades and Downgrades

BHVN has been the topic of several research analyst reports. Robert W. Baird set a $42.00 price objective on Biohaven in a research note on Wednesday, November 5th. BTIG Research lowered their price target on Biohaven from $33.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, November 6th. TD Cowen cut their price objective on Biohaven from $50.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Raymond James Financial reissued a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, November 5th. Finally, Bank of America downgraded shares of Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Biohaven has a consensus rating of “Moderate Buy” and an average price target of $33.21.

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.