Gregory Bailey Purchases 48,780 Shares of Biohaven Ltd. (NYSE:BHVN) Stock

Biohaven Ltd. (NYSE:BHVN) Director Gregory Bailey purchased 48,780 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average cost of $41.00 per share, with a total value of $1,999,980.00. Following the completion of the transaction, the director now owns 1,574,568 shares in the company, valued at approximately $64,557,288. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Biohaven Stock Down 2.3 %

Shares of NYSE:BHVN opened at $38.70 on Thursday. Biohaven Ltd. has a fifty-two week low of $12.35 and a fifty-two week high of $62.21. The firm has a 50-day simple moving average of $51.49 and a 200 day simple moving average of $41.81. The company has a market cap of $3.17 billion, a PE ratio of -6.84 and a beta of 1.18.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). As a group, research analysts forecast that Biohaven Ltd. will post -5.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BHVN has been the subject of a number of research reports. TD Cowen upped their price target on shares of Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. boosted their price objective on shares of Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. HC Wainwright upped their target price on shares of Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a research note on Tuesday, April 9th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research note on Thursday, April 18th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $52.13.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Stifel Financial Corp grew its position in Biohaven by 7.9% in the 4th quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock worth $266,465,000 after purchasing an additional 456,062 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Biohaven by 33.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,134,323 shares of the company’s stock worth $134,150,000 after purchasing an additional 791,181 shares during the last quarter. Point72 Asset Management L.P. grew its position in Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock worth $106,297,000 after purchasing an additional 1,458,072 shares during the last quarter. Armistice Capital LLC boosted its holdings in shares of Biohaven by 13.1% in the third quarter. Armistice Capital LLC now owns 2,036,000 shares of the company’s stock valued at $52,956,000 after acquiring an additional 236,000 shares in the last quarter. Finally, Perceptive Advisors LLC boosted its holdings in shares of Biohaven by 129.4% in the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock valued at $73,832,000 after acquiring an additional 973,227 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

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.