Vlad Coric Buys 666,666 Shares of Biohaven (NYSE:BHVN) Stock

Biohaven Ltd. (NYSE:BHVN) CEO Vlad Coric bought 666,666 shares of the firm’s stock in a transaction dated Thursday, November 13th. The shares were bought at an average price of $7.50 per share, with a total value of $4,999,995.00. Following the completion of the transaction, the chief executive officer directly owned 1,195,275 shares in the company, valued at approximately $8,964,562.50. This trade represents a 126.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Biohaven Stock Performance

Shares of NYSE:BHVN opened at $9.43 on Wednesday. The company has a market capitalization of $998.47 million, a price-to-earnings ratio of -1.24 and a beta of 1.10. The firm’s 50 day simple moving average is $14.13 and its 200 day simple moving average is $14.94. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. Biohaven Ltd. has a fifty-two week low of $7.48 and a fifty-two week high of $47.75.

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

Institutional Investors Weigh In On Biohaven

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of Biohaven by 53.7% in the first quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company’s stock worth $43,000 after purchasing an additional 623 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its position in Biohaven by 0.4% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 173,656 shares of the company’s stock valued at $2,607,000 after purchasing an additional 657 shares in the last quarter. RWA Wealth Partners LLC increased its stake in Biohaven by 7.0% in the 1st quarter. RWA Wealth Partners LLC now owns 12,622 shares of the company’s stock valued at $303,000 after buying an additional 822 shares during the last quarter. SVB Wealth LLC bought a new stake in Biohaven during the 1st quarter worth about $25,000. Finally, Elkhorn Partners Limited Partnership boosted its stake in shares of Biohaven by 26.1% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock worth $82,000 after buying an additional 1,200 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Wall Street Analysts Forecast Growth

BHVN has been the topic of several recent analyst reports. Bank of America lowered 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. Cowen reaffirmed a “buy” rating on shares of Biohaven in a research report on Wednesday, November 5th. TD Cowen decreased their price objective on Biohaven from $50.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. William Blair reissued a “market perform” rating on shares of Biohaven in a research note on Tuesday, November 11th. Finally, Leerink Partners cut their price target on shares of Biohaven from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.21.

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.