Gregory Bailey Purchases 5,000 Shares of Biohaven Ltd. (NYSE:BHVN) Stock

Biohaven Ltd. (NYSE:BHVN) Director Gregory Bailey purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Biohaven Trading Up 4.0 %

Shares of NYSE BHVN opened at $51.18 on Friday. Biohaven Ltd. has a 1-year low of $20.80 and a 1-year high of $62.21. The company has a 50-day moving average of $39.23 and a two-hundred day moving average of $40.78. The company has a market cap of $4.84 billion, a PE ratio of -7.49 and a beta of 1.30.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). As a group, equities research analysts forecast that Biohaven Ltd. will post -8.92 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BHVN shares. Sanford C. Bernstein upped their price objective on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Tuesday. Leerink Partners lifted their price objective on Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday. Morgan Stanley initiated coverage on shares of Biohaven in a research note on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 target price on the stock. Finally, William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $60.92.

Institutional Investors Weigh In On Biohaven

Institutional investors and hedge funds have recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new position in Biohaven in the second quarter valued at about $61,000. Elkhorn Partners Limited Partnership acquired a new position in Biohaven during the 2nd quarter valued at about $125,000. Quarry LP lifted its position in Biohaven by 614.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after purchasing an additional 4,300 shares during the period. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Biohaven in the 4th quarter valued at about $230,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Biohaven during the 4th quarter worth approximately $235,000. Institutional investors own 88.78% of the company’s stock.

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.