Biohaven (NYSE:BHVN) Shares Gap Up to $14.34

Biohaven Ltd. (NYSE:BHVNGet Rating)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $14.34, but opened at $14.84. Biohaven shares last traded at $14.92, with a volume of 3,310 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BHVN. Cantor Fitzgerald raised Biohaven from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $158.00 to $27.00 in a research note on Wednesday, October 26th. Cowen set a $25.00 price target on Biohaven in a research note on Monday, November 7th. Cowen cut their price target on Biohaven to $25.00 in a research note on Monday, November 7th. Wedbush lowered Biohaven from an “outperform” rating to a “neutral” rating and set a $148.50 price target on the stock. in a research note on Monday, August 8th. Finally, Piper Sandler cut their price target on Biohaven from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.65.

Biohaven Price Performance

The company has a market capitalization of $1.05 billion, a P/E ratio of -1.11 and a beta of 1.01. The stock has a 50-day moving average price of $49.57 and a 200-day moving average price of $111.76.

Biohaven (NYSE:BHVNGet Rating) last issued its quarterly earnings data on Wednesday, November 9th. The company reported ($1.75) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.53) by $0.78. Sell-side analysts anticipate that Biohaven Ltd. will post -12.48 EPS for the current fiscal year.

Insiders Place Their Bets

In other Biohaven news, Director Gregory Bailey bought 200,000 shares of the stock in a transaction on Tuesday, October 25th. The stock was acquired at an average cost of $10.50 per share, for a total transaction of $2,100,000.00. Following the completion of the acquisition, the director now owns 1,507,971 shares in the company, valued at approximately $15,833,695.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Biohaven news, CFO Matthew Buten bought 142,857 shares of the stock in a transaction on Tuesday, October 25th. The stock was acquired at an average cost of $10.50 per share, for a total transaction of $1,499,998.50. Following the completion of the acquisition, the chief financial officer now owns 166,653 shares in the company, valued at approximately $1,749,856.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Bailey bought 200,000 shares of the stock in a transaction on Tuesday, October 25th. The stock was acquired at an average price of $10.50 per share, with a total value of $2,100,000.00. Following the completion of the acquisition, the director now owns 1,507,971 shares of the company’s stock, valued at approximately $15,833,695.50. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,263,967 shares of company stock worth $13,596,014. 12.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biohaven

A number of hedge funds have recently added to or reduced their stakes in BHVN. EverSource Wealth Advisors LLC grew its stake in Biohaven by 311.8% in the second quarter. EverSource Wealth Advisors LLC now owns 280 shares of the company’s stock valued at $41,000 after acquiring an additional 212 shares during the period. Meeder Asset Management Inc. acquired a new stake in Biohaven in the second quarter valued at approximately $59,000. JBF Capital Inc. acquired a new stake in Biohaven in the third quarter valued at approximately $63,000. US Bancorp DE grew its stake in Biohaven by 19.1% in the first quarter. US Bancorp DE now owns 586 shares of the company’s stock valued at $70,000 after acquiring an additional 94 shares during the period. Finally, Exchange Traded Concepts LLC grew its stake in Biohaven by 151.6% in the second quarter. Exchange Traded Concepts LLC now owns 536 shares of the company’s stock valued at $78,000 after acquiring an additional 323 shares during the period. Institutional investors and hedge funds own 78.19% of the company’s stock.

Biohaven Company Profile

(Get Rating)

Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering and developing therapies for patients with debilitating neurological and neuropsychiatric diseases in the United States. The company's pipeline products include BHV-7000, a potassium channel activator for the treatment of focal epilepsy; Troriluzole, a tripeptide prodrug that is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500, a low-trapping glutamate N-methyl-D-aspartate receptor antagonist for neuropathic pain; and Verdiperstat, an irreversible myeloperoxidase enzyme inhibitor for the treatment of neurodegenerative diseases.

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