Biohaven Ltd. (NYSE:BHVN) Director Purchases $999,207.54 in Stock

Biohaven Ltd. (NYSE:BHVN) Director Gregory Bailey purchased 25,503 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average cost of $39.18 per share, with a total value of $999,207.54. Following the completion of the purchase, the director now owns 1,600,071 shares of the company’s stock, valued at $62,690,781.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

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

Biohaven Stock Up 1.1 %

NYSE:BHVN opened at $38.97 on Friday. The company’s 50 day moving average price is $50.90 and its 200-day moving average price is $41.86. 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 price-to-earnings 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) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). As a group, sell-side analysts anticipate that Biohaven Ltd. will post -5.81 earnings per share for the current year.

Institutional Investors Weigh In On Biohaven

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Simon Quick Advisors LLC boosted its holdings in Biohaven by 36.3% in the fourth quarter. Simon Quick Advisors LLC now owns 74,968 shares of the company’s stock worth $3,209,000 after purchasing an additional 19,968 shares during the last quarter. Citigroup Inc. boosted its holdings in Biohaven by 97.9% in the third quarter. Citigroup Inc. now owns 146,907 shares of the company’s stock worth $3,821,000 after purchasing an additional 72,673 shares during the last quarter. Legato Capital Management LLC purchased a new stake in Biohaven in the fourth quarter worth approximately $469,000. Monashee Investment Management LLC boosted its holdings in Biohaven by 80.0% in the third quarter. Monashee Investment Management LLC now owns 90,000 shares of the company’s stock worth $2,341,000 after purchasing an additional 40,000 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Biohaven in the third quarter worth approximately $923,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. TD Cowen raised their target price on shares of Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. JPMorgan Chase & Co. raised their target price on shares of Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 target price on shares of Biohaven in a research note on Tuesday, April 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research note on Thursday, April 18th. Finally, UBS Group raised their target price on shares of Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $52.13.

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.