Biohaven Ltd. (NYSE:BHVN – Get Free Report)’s share price dropped 6.4% during mid-day trading on Tuesday . The company traded as low as $35.05 and last traded at $35.09. Approximately 531,205 shares changed hands during trading, a decline of 47% from the average daily volume of 995,674 shares. The stock had previously closed at $37.48.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on BHVN. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Robert W. Baird increased their price objective on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Royal Bank of Canada restated an “outperform” rating and set a $61.00 target price (up from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. TD Cowen increased their price target on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Piper Sandler boosted their price objective on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $63.00.
View Our Latest Report on BHVN
Biohaven Stock Performance
Biohaven (NYSE:BHVN – Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). As a group, analysts anticipate that Biohaven Ltd. will post -8.85 earnings per share for the current year.
Insider Transactions at Biohaven
In other news, Director John W. Childs bought 29,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 16.00% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Biohaven in the 3rd quarter valued at $50,000. Values First Advisors Inc. acquired a new stake in Biohaven in the third quarter valued at $78,000. US Bancorp DE lifted its holdings in Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after buying an additional 790 shares during the last quarter. KBC Group NV boosted its position in shares of 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 in the last quarter. Finally, Elkhorn Partners Limited Partnership purchased a new position in shares of Biohaven in the 2nd quarter valued at about $125,000. Institutional investors and hedge funds own 88.78% of the company’s stock.
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.
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