Biohaven Ltd. (NYSE:BHVN) Short Interest Update

Biohaven Ltd. (NYSE:BHVN) was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 9,630,000 shares, an increase of 8.1% from the April 15th total of 8,910,000 shares. Based on an average daily volume of 1,300,000 shares, the short-interest ratio is presently 7.4 days.

Insiders Place Their Bets

In related news, Director John W. Childs bought 28,500 shares of the stock in a transaction on Monday, May 13th. The shares were acquired at an average price of $35.17 per share, for a total transaction of $1,002,345.00. Following the purchase, the director now owns 2,283,341 shares of the company’s stock, valued at $80,305,102.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Gregory Bailey acquired 25,503 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average price of $39.18 per share, with a total value of $999,207.54. Following the completion of the acquisition, the director now directly owns 1,600,071 shares of the company’s stock, valued at approximately $62,690,781.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Childs bought 28,500 shares of the stock in a transaction on Monday, May 13th. The stock was purchased at an average cost of $35.17 per share, for a total transaction of $1,002,345.00. Following the acquisition, the director now owns 2,283,341 shares of the company’s stock, valued at approximately $80,305,102.97. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 224,734 shares of company stock valued at $9,001,524. Corporate insiders own 16.00% of the company’s stock.

Hedge Funds Weigh In On Biohaven

Several institutional investors have recently added to or reduced their stakes in the company. Darwin Global Management Ltd. purchased a new position in shares of Biohaven in the 1st quarter worth $80,776,000. Bellevue Group AG lifted its holdings in shares of Biohaven by 7.0% in the 1st quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock valued at $62,894,000 after acquiring an additional 75,000 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Biohaven by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock worth $183,050,000 after acquiring an additional 212,699 shares in the last quarter. Hood River Capital Management LLC increased its stake in Biohaven by 3.8% during the first quarter. Hood River Capital Management LLC now owns 336,454 shares of the company’s stock worth $18,401,000 after acquiring an additional 12,253 shares during the last quarter. Finally, Altitude Crest Partners Inc. purchased a new stake in Biohaven during the first quarter valued at approximately $6,474,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their target price on Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. HC Wainwright lowered their price objective on Biohaven from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday. TD Cowen boosted their price objective on Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. UBS Group raised their target price on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research report on Tuesday, April 9th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $51.63.

Biohaven Stock Performance

BHVN stock opened at $37.08 on Thursday. The company’s fifty day moving average price is $48.06 and its 200-day moving average price is $43.04. Biohaven has a one year low of $13.53 and a one year high of $62.21. The company has a market capitalization of $3.27 billion, a PE ratio of -5.43 and a beta of 1.26.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.40). On average, research analysts predict that Biohaven will post -5.79 EPS for the current fiscal year.

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.