Biohaven (NYSE:BHVN) Trading Down 2.8%

Biohaven Ltd. (NYSE:BHVN) was down 2.8% on Thursday . The stock traded as low as $55.39 and last traded at $55.40. Approximately 47,845 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,180,654 shares. The stock had previously closed at $57.02.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BHVN shares. TD Cowen raised their price target on shares of Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. UBS Group initiated coverage on shares of Biohaven in a research note on Tuesday, February 6th. They set a “buy” rating and a $59.00 price target for the company. Robert W. Baird initiated coverage on shares of Biohaven in a research note on Friday, December 8th. They set an “outperform” rating and a $58.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Biohaven from $32.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Finally, HC Wainwright raised their price target 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, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $49.67.

Biohaven Price Performance

The firm has a market cap of $4.46 billion, a P/E ratio of -10.07 and a beta of 1.18. The stock has a 50 day moving average of $50.56 and a 200 day moving average of $37.95.

Biohaven (NYSE:BHVN) last posted its quarterly earnings results 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). On average, research analysts predict that Biohaven Ltd. will post -5.85 EPS for the current fiscal year.

Insider Buying and Selling at Biohaven

In other news, Director Irina Antonijevic sold 11,000 shares of the stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $41.79, for a total transaction of $459,690.00. Following the completion of the sale, the director now directly owns 2,535 shares in the company, valued at $105,937.65. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Institutional investors have recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Biohaven during the fourth quarter valued at approximately $10,828,000. Vanguard Group Inc. increased its stake in shares of Biohaven by 16.0% during the fourth quarter. Vanguard Group Inc. now owns 1,658,151 shares of the company’s stock valued at $70,969,000 after purchasing an additional 229,168 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Biohaven during the fourth quarter valued at approximately $593,000. Goldman Sachs Group Inc. increased its stake in shares of Biohaven by 8.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 945,715 shares of the company’s stock valued at $40,477,000 after purchasing an additional 71,850 shares in the last quarter. Finally, American International Group Inc. increased its stake in shares of Biohaven by 16.9% during the fourth quarter. American International Group Inc. now owns 34,005 shares of the company’s stock valued at $1,455,000 after purchasing an additional 4,922 shares in the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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.