Biohaven (NYSE:BHVN) Trading Down 2.8%

Biohaven Ltd. (NYSE:BHVN)’s share price traded down 2.8% on Thursday . The stock traded as low as $55.39 and last traded at $55.40. 47,845 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,180,654 shares. The stock had previously closed at $57.02.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. HC Wainwright upped their price target on shares of Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, March 4th. UBS Group assumed coverage on shares of Biohaven in a report on Tuesday, February 6th. They issued a “buy” rating and a $59.00 price target for the company. Royal Bank of Canada reduced their price target on shares of Biohaven from $62.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. upped their price target on shares of Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Robert W. Baird started coverage on shares of Biohaven in a report on Friday, December 8th. They set an “outperform” rating and a $58.00 target price for the company. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, Biohaven currently has a consensus rating of “Buy” and an average target price of $49.67.

Biohaven Price Performance

The company has a market capitalization of $4.46 billion, a P/E ratio of -10.07 and a beta of 1.18. The company’s 50-day moving average price is $50.56 and its two-hundred day moving average price is $37.95.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.40). On average, analysts anticipate that Biohaven Ltd. will post -5.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Irina Antonijevic sold 11,000 shares of the firm’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $41.79, for a total transaction of $459,690.00. Following the transaction, the director now directly owns 2,535 shares of the company’s stock, valued at $105,937.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 16.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Biohaven

Several hedge funds have recently bought and sold shares of BHVN. Point72 Asset Management L.P. increased its holdings in Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after buying an additional 1,458,072 shares during the period. Bellevue Group AG acquired a new stake in shares of Biohaven in the 4th quarter valued at approximately $46,010,000. Perceptive Advisors LLC boosted its position in Biohaven by 129.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after buying an additional 973,227 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Biohaven by 269.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,316,204 shares of the company’s stock worth $18,269,000 after buying an additional 959,947 shares during the period. Finally, Norges Bank acquired a new stake in Biohaven during the 4th quarter worth approximately $9,200,000. 88.78% of the stock is owned by institutional investors.

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.