Biohaven Ltd. (NYSE:BHVN) Short Interest Update

Biohaven Ltd. (NYSE:BHVN) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 9,440,000 shares, a decline of 5.0% from the January 15th total of 9,940,000 shares. Based on an average daily volume of 972,100 shares, the days-to-cover ratio is presently 9.7 days.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. TD Cowen raised their price objective on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $59.00 price target on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Biohaven in a report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Biohaven currently has a consensus rating of “Buy” and a consensus target price of $63.15.

Biohaven Price Performance

NYSE BHVN opened at $39.16 on Thursday. Biohaven has a 1-year low of $26.80 and a 1-year high of $62.21. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of -4.19 and a beta of 1.28. The business’s fifty day moving average price is $38.39 and its 200-day moving average price is $42.71.

Insider Transactions at Biohaven

In related news, Director John W. Childs purchased 29,000 shares of the stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the transaction, the director now directly owns 2,368,741 shares in the company, valued at $85,132,551.54. This trade represents a 1.24 % 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 link. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. HighTower Advisors LLC increased its position in shares of Biohaven by 6.1% during the 4th quarter. HighTower Advisors LLC now owns 5,870 shares of the company’s stock valued at $219,000 after purchasing an additional 335 shares during the last quarter. Franklin Resources Inc. increased its holdings in Biohaven by 0.5% during the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock valued at $4,206,000 after buying an additional 412 shares during the last quarter. KBC Group NV increased its holdings in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after buying an additional 443 shares during the last quarter. Venturi Wealth Management LLC raised its position in Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares during the period. Finally, FSC Wealth Advisors LLC boosted its stake in shares of Biohaven by 3.3% during the 4th quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company’s stock worth $579,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

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.