Biohaven (NYSE:BHVN) Director John Childs Acquires 3,333,333 Shares

Biohaven Ltd. (NYSE:BHVN) Director John Childs purchased 3,333,333 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $7.50 per share, for a total transaction of $24,999,997.50. Following the purchase, the director owned 5,653,904 shares of the company’s stock, valued at $42,404,280. This represents a 143.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Biohaven Trading Up 2.5%

BHVN opened at $8.29 on Monday. Biohaven Ltd. has a 12 month low of $7.48 and a 12 month high of $49.56. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 1.91. The stock has a 50-day moving average of $14.36 and a 200 day moving average of $15.13. The firm has a market cap of $877.05 million, a P/E ratio of -1.09 and a beta of 1.10.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, November 10th. The company reported ($1.64) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.91) by $0.27. As a group, research analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SVB Wealth LLC purchased a new stake in shares of Biohaven in the 1st quarter worth approximately $25,000. PNC Financial Services Group Inc. raised its stake in Biohaven by 113.7% in the third quarter. PNC Financial Services Group Inc. now owns 2,383 shares of the company’s stock worth $36,000 after buying an additional 1,268 shares in the last quarter. PFS Partners LLC bought a new position in Biohaven in the third quarter worth approximately $60,000. IFP Advisors Inc lifted its holdings in Biohaven by 84,800.0% during the first quarter. IFP Advisors Inc now owns 2,547 shares of the company’s stock worth $61,000 after buying an additional 2,544 shares during the period. Finally, Elkhorn Partners Limited Partnership boosted its position in Biohaven by 26.1% during the 2nd quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock valued at $82,000 after acquiring an additional 1,200 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BHVN has been the topic of a number of recent analyst reports. Sanford C. Bernstein reissued a “market perform” rating and issued a $9.00 price objective (down from $34.00) on shares of Biohaven in a research report on Thursday, November 6th. Cowen reaffirmed a “buy” rating on shares of Biohaven in a research note on Wednesday, November 5th. William Blair reiterated a “market perform” rating on shares of Biohaven in a report on Tuesday, November 11th. Bank of America cut Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 price objective for the company. in a report on Wednesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $30.00 target price (down previously from $54.00) on shares of Biohaven in a research note on Tuesday, August 12th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.21.

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.