Insider Buying: Biohaven Ltd. (NYSE:BHVN) Director Purchases 48,780 Shares of Stock

Biohaven Ltd. (NYSE:BHVN) Director Gregory Bailey purchased 48,780 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was bought at an average price 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 of the company’s stock, valued at $64,557,288. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Biohaven Stock Performance

NYSE BHVN opened at $38.32 on Tuesday. Biohaven Ltd. has a one year low of $12.35 and a one year high of $62.21. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -6.77 and a beta of 1.18. The company’s 50-day simple moving average is $51.63 and its two-hundred day simple moving average is $41.70.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.40). Equities analysts expect that Biohaven Ltd. will post -5.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. TD Cowen boosted their target price on shares of Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a research note on Tuesday, April 9th. UBS Group initiated coverage on shares of Biohaven in a research report on Tuesday, February 6th. They issued a “buy” rating and a $59.00 price objective for the company. Finally, HC Wainwright upped their target price on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $52.00.

Institutional Trading of Biohaven

Several institutional investors and hedge funds have recently bought and sold shares of BHVN. Simon Quick Advisors LLC raised its holdings in shares of Biohaven by 36.3% during the fourth quarter. Simon Quick Advisors LLC now owns 74,968 shares of the company’s stock worth $3,209,000 after purchasing an additional 19,968 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Biohaven by 97.9% in the 3rd quarter. Citigroup Inc. now owns 146,907 shares of the company’s stock valued at $3,821,000 after buying an additional 72,673 shares during the period. Legato Capital Management LLC purchased a new stake in shares of Biohaven in the fourth quarter worth about $469,000. Monashee Investment Management LLC grew its holdings in Biohaven by 80.0% during the third quarter. Monashee Investment Management LLC now owns 90,000 shares of the company’s stock worth $2,341,000 after acquiring an additional 40,000 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in Biohaven during the third quarter worth about $923,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

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.