Biohaven (NYSE:BHVN) Shares Gap Down to $37.08

Biohaven Ltd. (NYSE:BHVN - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $37.08, but opened at $36.21. Biohaven shares last traded at $36.86, with a volume of 107,588 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HC Wainwright reduced their price target on Biohaven from $63.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday. UBS Group raised their target price on shares of Biohaven from $59.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, April 23rd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Biohaven in a report on Thursday, April 18th. Royal Bank of Canada restated an "outperform" rating and issued a $61.00 price objective on shares of Biohaven in a report on Tuesday, April 9th. Finally, TD Cowen boosted their target price on shares of Biohaven from $35.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $51.63.

Biohaven Trading Up 3.7 %

The firm's fifty day moving average price is $47.67 and its 200-day moving average price is $43.01. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of -5.63 and a beta of 1.26.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.41) by ($0.40). On average, sell-side analysts expect that Biohaven Ltd. will post -5.79 earnings per share for the current year.

Insider Buying and Selling

In other news, Director John W. Childs acquired 28,500 shares of Biohaven stock in a transaction on Monday, May 13th. The stock was bought at an average price of $35.17 per share, for a total transaction of $1,002,345.00. Following the completion of the purchase, the director now owns 2,283,341 shares in the company, valued at $80,305,102.97. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Gregory Bailey purchased 25,503 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average price of $39.18 per share, with a total value of $999,207.54. Following the completion of the acquisition, the director now directly owns 1,600,071 shares in the company, valued at approximately $62,690,781.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John W. Childs acquired 28,500 shares of Biohaven stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $35.17 per share, with a total value of $1,002,345.00. Following the completion of the purchase, the director now owns 2,283,341 shares in the company, valued at $80,305,102.97. The disclosure for this purchase can be found here. Insiders have bought 224,734 shares of company stock worth $9,001,524 in the last quarter. 16.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BHVN. Teacher Retirement System of Texas grew its position in Biohaven by 4.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 16,486 shares of the company's stock valued at $429,000 after buying an additional 746 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in shares of Biohaven by 7.3% in the first quarter. Commonwealth Equity Services LLC now owns 12,188 shares of the company's stock valued at $667,000 after acquiring an additional 830 shares in the last quarter. Raymond James & Associates increased its stake in shares of Biohaven by 3.5% during the fourth quarter. Raymond James & Associates now owns 28,499 shares of the company's stock worth $1,220,000 after acquiring an additional 954 shares during the period. ProShare Advisors LLC raised its holdings in Biohaven by 8.5% during the first quarter. ProShare Advisors LLC now owns 12,291 shares of the company's stock worth $672,000 after purchasing an additional 967 shares in the last quarter. Finally, Swiss National Bank lifted its position in Biohaven by 1.0% in the third quarter. Swiss National Bank now owns 127,500 shares of the company's stock valued at $3,316,000 after purchasing an additional 1,300 shares during the period. 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.