Biohaven Ltd. (NYSE:BHVN) Short Interest Update

Biohaven Ltd. (NYSE:BHVN) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 9,260,000 shares, a drop of 5.8% from the May 31st total of 9,830,000 shares. Based on an average daily trading volume, of 1,360,000 shares, the days-to-cover ratio is currently 6.8 days.

Insider Activity at Biohaven

In other news, Director John W. Childs bought 28,500 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $35.17 per share, with a total value of $1,002,345.00. Following the completion of the purchase, the director now directly owns 2,283,341 shares of the company’s stock, valued at approximately $80,305,102.97. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Vlad Coric purchased 121,951 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was acquired at an average price of $41.00 per share, for a total transaction of $4,999,991.00. Following the transaction, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at approximately $73,325,097. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Childs purchased 28,500 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $35.17 per share, with a total value of $1,002,345.00. Following the transaction, the director now directly owns 2,283,341 shares in the company, valued at $80,305,102.97. The disclosure for this purchase can be found here. Insiders bought 252,734 shares of company stock valued at $9,997,764 over the last 90 days. 16.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Biohaven

Institutional investors and hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC lifted its stake in 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 buying an additional 973,227 shares during the period. Simon Quick Advisors LLC grew its stake in Biohaven by 36.3% in the fourth quarter. Simon Quick Advisors LLC now owns 74,968 shares of the company’s stock valued at $3,209,000 after purchasing an additional 19,968 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Biohaven by 20.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,904 shares of the company’s stock valued at $22,209,000 after purchasing an additional 86,890 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Biohaven by 27.9% in the fourth quarter. New York State Common Retirement Fund now owns 41,276 shares of the company’s stock valued at $1,767,000 after buying an additional 9,000 shares during the last quarter. Finally, Citigroup Inc. lifted its position in shares of Biohaven by 97.9% in the third 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 last quarter. 88.78% of the stock is currently owned by institutional investors.

Biohaven Stock Down 1.1 %

Shares of BHVN traded down $0.38 during midday trading on Wednesday, reaching $33.79. 364,833 shares of the stock were exchanged, compared to its average volume of 1,290,317. Biohaven has a 12-month low of $16.45 and a 12-month high of $62.21. The firm has a 50 day simple moving average of $36.35 and a 200-day simple moving average of $44.01. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -4.95 and a beta of 1.32.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($2.20) EPS for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.70). Research analysts expect that Biohaven will post -7.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Thursday, May 30th. Royal Bank of Canada restated an “outperform” rating and set a $59.00 price objective on shares of Biohaven in a research report on Tuesday, June 18th. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Thursday, May 30th. Finally, UBS Group raised their price objective on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $54.71.

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.