Insider Buying: Biohaven Ltd. (NYSE:BHVN) Director Purchases 25,503 Shares of Stock

Biohaven Ltd. (NYSE:BHVN) Director Gregory Bailey bought 25,503 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average price of $39.18 per share, with a total value of $999,207.54. Following the completion of the acquisition, the director now owns 1,600,071 shares of the company’s stock, valued at approximately $62,690,781.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gregory Bailey also recently made the following trade(s):

• On Monday, April 22nd, Gregory Bailey acquired 48,780 shares of Biohaven stock. The shares were acquired at an average price of $41.00 per share, with a total value of $1,999,980.00.

Biohaven Trading Up 1.2 %

NYSE BHVN opened at $38.99 on Friday. The company’s fifty day simple moving average is $51.11 and its 200-day simple moving average is $41.77. Biohaven Ltd. has a 52 week low of $12.35 and a 52 week high of $62.21. The stock has a market cap of $3.44 billion, a P/E ratio of -6.89 and a beta of 1.18.

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 expect that Biohaven Ltd. will post -5.85 EPS for the current fiscal year.

Institutional Trading of Biohaven

Several institutional investors have recently added to or reduced their stakes in BHVN. FSC Wealth Advisors LLC raised its holdings in Biohaven by 50.0% in the third 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 in the last quarter. Raymond James & Associates raised its holdings in Biohaven by 104.3% in the third 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 in the last quarter. Weybosset Research & Management LLC raised its holdings in Biohaven by 19.7% in the third 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 in the last quarter. Strs Ohio raised its holdings in Biohaven by 99.2% in the third quarter. Strs Ohio now owns 24,100 shares of the company’s stock valued at $626,000 after acquiring an additional 12,000 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Biohaven by 13.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,071 shares of the company’s stock valued at $990,000 after acquiring an additional 4,540 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. HC Wainwright boosted their price objective 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. TD Cowen boosted their price objective on shares of Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a research note on Tuesday, April 9th. UBS Group boosted their price objective on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Thursday, April 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Biohaven currently has a consensus rating of “Buy” and an average price target of $52.13.

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.