Biohaven (NYSE:BHVN) Stock Price Down 13% – What’s Next?

Biohaven Ltd. (NYSE:BHVN)’s stock price was down 13% on Wednesday . The stock traded as low as $10.46 and last traded at $9.1310. Approximately 1,061,050 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 2,292,048 shares. The stock had previously closed at $10.50.

Wall Street Analyst Weigh In

Several analysts have issued reports on BHVN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Biohaven in a research report on Monday. Citigroup lowered their price objective on shares of Biohaven from $28.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 13th. William Blair reiterated a “market perform” rating on shares of Biohaven in a research note 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 report on Wednesday, November 5th. Finally, UBS Group downgraded Biohaven from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $11.00 in a research report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.93.

Biohaven Stock Down 13.7%

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 market cap of $959.62 million, a P/E ratio of -1.18 and a beta of 1.13. The firm has a 50-day simple moving average of $11.77 and a two-hundred day simple moving average of $13.72.

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

Insider Buying and Selling at Biohaven

In other Biohaven news, Director Gregory Bailey bought 400,000 shares of the stock in a transaction dated Thursday, November 13th. The shares were bought at an average cost of $7.50 per share, with a total value of $3,000,000.00. Following the completion of the acquisition, the director owned 2,020,071 shares of the company’s stock, valued at $15,150,532.50. This trade represents a 24.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John W. Childs purchased 3,333,333 shares of the company’s stock in a transaction dated Thursday, November 13th. The stock was acquired at an average price of $7.50 per share, with a total value of $24,999,997.50. Following the completion of the transaction, 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 position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 4,416,999 shares of company stock worth $33,144,833. 14.60% of the stock is currently owned by company insiders.

Institutional Trading of Biohaven

Several large investors have recently modified their holdings of the stock. Invesco Ltd. lifted its position in Biohaven by 32.1% during the first quarter. Invesco Ltd. now owns 68,460 shares of the company’s stock worth $1,646,000 after purchasing an additional 16,646 shares during the period. American Century Companies Inc. raised its position in shares of Biohaven by 1.4% in the 1st quarter. American Century Companies Inc. now owns 566,501 shares of the company’s stock valued at $13,619,000 after buying an additional 7,740 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Biohaven by 26.6% during the 1st quarter. Wellington Management Group LLP now owns 802,731 shares of the company’s stock worth $19,298,000 after acquiring an additional 168,676 shares during the period. SVB Wealth LLC bought a new stake in shares of Biohaven during the 1st quarter worth approximately $25,000. Finally, Ieq Capital LLC acquired a new stake in shares of Biohaven during the 1st quarter worth approximately $346,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Company Profile

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.