Biohaven (NYSE:BHVN) Trading Down 3.7%

Biohaven Ltd. (NYSE:BHVN)’s share price fell 3.7% during trading on Tuesday . The company traded as low as $43.87 and last traded at $44.24. 625,762 shares were traded during trading, a decline of 47% from the average session volume of 1,172,825 shares. The stock had previously closed at $45.94.

Analysts Set New Price Targets

A number of analysts have issued reports on BHVN shares. Piper Sandler lifted their price objective on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday. Leerink Partners increased their price target on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday. Sanford C. Bernstein raised their price objective on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday. Robert W. Baird boosted their target price on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Bank of America raised their price target on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Biohaven currently has a consensus rating of “Buy” and a consensus target price of $60.92.

Biohaven Stock Down 3.0 %

The firm has a 50 day moving average price of $38.50 and a 200 day moving average price of $40.74. The stock has a market cap of $3.93 billion, a PE ratio of -6.50 and a beta of 1.30.

Biohaven (NYSE:BHVN) last posted its earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). Equities analysts forecast that Biohaven Ltd. will post -8.92 earnings per share for the current year.

Insider Transactions at Biohaven

In other news, Director John W. Childs bought 28,400 shares of the stock in a transaction on Thursday, July 18th. The stock was bought at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the purchase, the director now directly owns 2,339,741 shares in the company, valued at $83,458,561.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

A number of institutional investors have recently bought and sold shares of the stock. Redwood Wealth Management Group LLC acquired a new stake in shares of Biohaven during the second quarter worth $61,000. Elkhorn Partners Limited Partnership purchased a new stake in Biohaven during the 2nd quarter valued at about $125,000. Quarry LP grew its stake in Biohaven by 614.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after purchasing an additional 4,300 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Biohaven in the fourth quarter worth about $230,000. Finally, Capstone Investment Advisors LLC purchased a new stake in Biohaven in the fourth quarter valued at approximately $235,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

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.