Biohaven Ltd. (NYSE:BHVN - Get Free Report)'s stock price was down 3.8% during mid-day trading on Tuesday . The company traded as low as $15.06 and last traded at $15.05. Approximately 974,411 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 1,238,086 shares. The stock had previously closed at $15.64.
Analyst Upgrades and Downgrades
BHVN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. William Blair upgraded Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. HC Wainwright reiterated a "buy" rating and issued a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Cantor Fitzgerald raised Biohaven to a "strong-buy" rating in a report on Tuesday, May 13th. Finally, Robert W. Baird cut their price target on Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $59.46.
Read Our Latest Research Report on BHVN
Biohaven Stock Performance
The stock has a 50 day moving average price of $19.86 and a 200 day moving average price of $32.07. The company has a market cap of $1.49 billion, a P/E ratio of -1.57 and a beta of 1.18.
Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.50). As a group, equities research analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.
Insider Buying and Selling
In related news, Director John W. Childs bought 32,700 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. The trade was a 1.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.00% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of BHVN. JPMorgan Chase & Co. grew its holdings in shares of Biohaven by 144.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company's stock valued at $73,922,000 after buying an additional 1,169,721 shares in the last quarter. Norges Bank purchased a new position in shares of Biohaven during the fourth quarter valued at $33,711,000. Millennium Management LLC grew its holdings in shares of Biohaven by 1,172.9% during the first quarter. Millennium Management LLC now owns 901,258 shares of the company's stock valued at $21,666,000 after buying an additional 830,457 shares in the last quarter. Farallon Capital Management LLC grew its holdings in shares of Biohaven by 21.6% during the fourth quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company's stock valued at $165,392,000 after buying an additional 785,578 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Biohaven by 12.1% during the fourth quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company's stock valued at $260,735,000 after buying an additional 756,032 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company's stock.
Biohaven Company Profile
(
Get Free Report)
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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