Biohaven Ltd. (NYSE:BHVN) Director Gregory Bailey Acquires 48,780 Shares

Biohaven Ltd. (NYSE:BHVN) Director Gregory Bailey bought 48,780 shares of the stock in a transaction on Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the acquisition, the director now owns 1,574,568 shares of the company’s stock, valued at approximately $64,557,288. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Biohaven Stock Performance

NYSE BHVN opened at $39.60 on Wednesday. The company has a market cap of $3.24 billion, a P/E ratio of -7.00 and a beta of 1.18. The business’s 50 day moving average price is $51.63 and its 200-day moving average price is $41.70. Biohaven Ltd. has a fifty-two week low of $12.35 and a fifty-two week high of $62.21.

Biohaven (NYSE:BHVN) last released its earnings results on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.40). As a group, equities analysts predict that Biohaven Ltd. will post -5.85 EPS for the current year.

Hedge Funds Weigh In On Biohaven

Several hedge funds have recently bought and sold shares of BHVN. FSC Wealth Advisors LLC grew its position in Biohaven by 50.0% in the 3rd quarter. FSC Wealth Advisors LLC now owns 15,000 shares of the company’s stock valued at $390,000 after acquiring an additional 5,000 shares during the last quarter. Raymond James & Associates grew its position in Biohaven by 104.3% in the 3rd quarter. Raymond James & Associates now owns 27,545 shares of the company’s stock valued at $716,000 after acquiring an additional 14,065 shares during the last quarter. Weybosset Research & Management LLC grew its position in Biohaven by 19.7% in the 3rd quarter. Weybosset Research & Management LLC now owns 12,140 shares of the company’s stock valued at $316,000 after acquiring an additional 2,000 shares during the last quarter. Strs Ohio grew its position in Biohaven by 99.2% in the 3rd quarter. Strs Ohio now owns 24,100 shares of the company’s stock valued at $626,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Biohaven by 13.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,071 shares of the company’s stock worth $990,000 after buying an additional 4,540 shares during the period. Institutional investors own 88.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. HC Wainwright increased their target price on Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, March 4th. TD Cowen increased their target price on Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, March 1st. UBS Group increased their target price on Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. raised their price objective on Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $52.13.

About Biohaven

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.