Insider Buying: Biohaven Ltd. (NYSE:BHVN) Director Acquires $1,042,260.00 in Stock

Biohaven Ltd. (NYSE:BHVN) Director John W. Childs purchased 29,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the purchase, the director now owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. This represents a 1.24 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Biohaven Stock Down 0.2 %

Shares of Biohaven stock opened at $37.28 on Friday. Biohaven Ltd. has a 12-month low of $26.80 and a 12-month high of $62.21. The firm has a market capitalization of $3.77 billion, a PE ratio of -3.99 and a beta of 1.24. The stock’s fifty day moving average is $44.41 and its 200-day moving average is $41.98.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). Analysts expect that Biohaven Ltd. will post -8.85 EPS for the current year.

Hedge Funds Weigh In On Biohaven

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHVN. nVerses Capital LLC acquired a new stake in Biohaven during the 3rd quarter valued at $50,000. Redwood Wealth Management Group LLC purchased a new position in shares of Biohaven during the second quarter valued at $61,000. Values First Advisors Inc. acquired a new position in Biohaven during the third quarter valued at $78,000. US Bancorp DE lifted its stake in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV boosted its position in Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Robert W. Baird raised their target price on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Piper Sandler raised their price objective on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. TD Cowen upped their target price on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. lifted their price target on Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, Bank of America boosted their price objective on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $63.00.

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.