Biohaven (NYSE:BHVN) CAO George Clark Acquires 17,000 Shares of Stock

Biohaven Ltd. (NYSE:BHVN) CAO George Clark bought 17,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was bought at an average price of $8.52 per share, for a total transaction of $144,840.00. Following the completion of the purchase, the chief accounting officer directly owned 20,000 shares of the company’s stock, valued at $170,400. The trade was a 566.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Biohaven Stock Up 14.1%

Biohaven stock opened at $9.43 on Wednesday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.86 and a current ratio of 2.86. Biohaven Ltd. has a one year low of $7.48 and a one year high of $47.75. The company has a 50-day simple moving average of $14.13 and a 200-day simple moving average of $14.94. The firm has a market capitalization of $998.47 million, a P/E ratio of -1.24 and a beta of 1.10.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on BHVN shares. William Blair reiterated a “market perform” rating on shares of Biohaven in a research report on Tuesday, November 11th. TD Cowen reduced their price target on Biohaven from $50.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Citigroup decreased their price target on Biohaven from $28.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. Morgan Stanley cut their price objective on shares of Biohaven from $54.00 to $26.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Bank of America lowered shares of Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 target price for the company. in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.21.

Institutional Investors Weigh In On Biohaven

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in Biohaven during the 3rd quarter worth approximately $955,000. Alyeska Investment Group L.P. acquired a new stake in shares of Biohaven in the third quarter worth $3,002,000. Verition Fund Management LLC boosted its position in shares of Biohaven by 19.4% in the third quarter. Verition Fund Management LLC now owns 146,180 shares of the company’s stock worth $2,194,000 after buying an additional 23,724 shares during the period. Quantessence Capital LLC purchased a new position in shares of Biohaven during the third quarter valued at $945,000. Finally, Quarry LP acquired a new position in Biohaven during the third quarter valued at $150,000. Hedge funds and other 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.