Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN) Short Interest Down 16.2% in May

Posted by on Jun 1st, 2022

Biohaven Pharmaceutical Holding Company Ltd. (NYSE:BHVN – Get Rating) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 4,130,000 shares, a decline of 16.2% from the April 30th total of 4,930,000 shares. Approximately 6.7% of the shares of the stock are short sold. Based on an average daily volume of 1,520,000 shares, the days-to-cover ratio is presently 2.7 days.

BHVN stock traded up $0.29 during trading on Wednesday, hitting $144.02. The company had a trading volume of 26,770 shares, compared to its average volume of 3,594,406. The business has a 50-day moving average of $119.04 and a 200-day moving average of $121.56. Biohaven Pharmaceutical has a one year low of $79.01 and a one year high of $151.51.

Biohaven Pharmaceutical (NYSE:BHVN – Get Rating) last announced its earnings results on Tuesday, May 10th. The company reported ($2.97) EPS for the quarter, missing the consensus estimate of ($2.52) by ($0.45). During the same quarter last year, the company posted ($4.21) earnings per share. As a group, research analysts expect that Biohaven Pharmaceutical will post -9.85 earnings per share for the current year.

Several brokerages have commented on BHVN. Mizuho boosted their target price on Biohaven Pharmaceutical from $144.00 to $154.00 and gave the stock a “buy” rating in a research note on Thursday, March 3rd. Morgan Stanley lowered their target price on Biohaven Pharmaceutical from $148.00 to $146.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 6th. HC Wainwright downgraded Biohaven Pharmaceutical from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 11th. Cantor Fitzgerald downgraded Biohaven Pharmaceutical from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 11th. Finally, SVB Leerink downgraded Biohaven Pharmaceutical from an “outperform” rating to a “market perform” rating and set a $150.00 price objective for the company. in a research note on Wednesday, May 11th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $151.73.

In related news, CAO George C. Clark sold 4,200 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $141.50, for a total value of $594,300.00. Following the completion of the transaction, the chief accounting officer now owns 4,065 shares of the company’s stock, valued at $575,197.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.40% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Two Sigma Advisers LP bought a new position in shares of Biohaven Pharmaceutical during the 3rd quarter worth approximately $5,404,000. Myriad Asset Management Ltd. bought a new position in shares of Biohaven Pharmaceutical during the 4th quarter worth approximately $1,984,000. Ensign Peak Advisors Inc boosted its holdings in shares of Biohaven Pharmaceutical by 30.9% during the 4th quarter. Ensign Peak Advisors Inc now owns 122,413 shares of the company’s stock worth $16,870,000 after buying an additional 28,921 shares in the last quarter. Eversept Partners LP bought a new position in shares of Biohaven Pharmaceutical during the 4th quarter worth approximately $43,428,000. Finally, Balyasny Asset Management LLC bought a new position in shares of Biohaven Pharmaceutical during the 3rd quarter worth approximately $4,785,000. Hedge funds and other institutional investors own 88.03% of the company’s stock.

Biohaven Pharmaceutical Company Profile (Get Rating)

Biohaven Pharmaceutical Holding Company Ltd., a biopharmaceutical company, develops products candidates targeting neurological and neuropsychiatric diseases, and rare disorders in the United States. It offers NURTEC ODT (rimegepant) for the acute treatment of migraine, as well as developing Rimegepant for preventive treatment of migraine; Zavegepant that is in phase III clinical trials for acute and preventive treatment of migraine, as well as respiratory complications and non-migraine studies; and BHV-3100 for non-migraine indications.

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