Biohaven Ltd. (NYSE:BHVN) Short Interest Update

Biohaven Ltd. (NYSE:BHVN - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 9,630,000 shares, an increase of 8.1% from the April 15th total of 8,910,000 shares. Based on an average daily volume of 1,300,000 shares, the short-interest ratio is presently 7.4 days.

Insider Activity at Biohaven

In other news, CEO Vlad Coric bought 121,951 shares of the stock in a transaction dated Monday, April 22nd. The shares were acquired at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the purchase, the chief executive officer now directly owns 1,788,417 shares in the company, valued at approximately $73,325,097. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Biohaven news, CEO Vlad Coric bought 121,951 shares of the firm's stock in a transaction dated Monday, April 22nd. The shares were purchased at an average price of $41.00 per share, for a total transaction of $4,999,991.00. Following the transaction, the chief executive officer now directly owns 1,788,417 shares of the company's stock, valued at approximately $73,325,097. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory Bailey purchased 25,503 shares of the company's stock in a transaction that occurred on Wednesday, April 24th. The stock was bought at an average cost of $39.18 per share, for a total transaction of $999,207.54. Following the purchase, the director now directly owns 1,600,071 shares in the company, valued at approximately $62,690,781.78. The disclosure for this purchase can be found here. Insiders bought a total of 224,734 shares of company stock worth $9,001,524 in the last three months. Company insiders own 16.00% of the company's stock.

Institutional Investors Weigh In On Biohaven

Institutional investors have recently modified their holdings of the company. Raymond James & Associates grew its position in shares of Biohaven by 104.3% in the 3rd quarter. Raymond James & Associates now owns 27,545 shares of the company's stock valued at $716,000 after buying an additional 14,065 shares during the last quarter. Strs Ohio increased its position in shares of Biohaven by 99.2% during the third quarter. Strs Ohio now owns 24,100 shares of the company's stock worth $626,000 after purchasing an additional 12,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Biohaven by 13.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,071 shares of the company's stock worth $990,000 after purchasing an additional 4,540 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Biohaven by 110.4% in the 3rd quarter. TD Asset Management Inc now owns 210,746 shares of the company's stock valued at $5,482,000 after purchasing an additional 110,573 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in Biohaven by 4.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 16,486 shares of the company's stock worth $429,000 after buying an additional 746 shares during the last quarter. 88.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BHVN shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price objective on shares of Biohaven in a report on Tuesday, April 9th. HC Wainwright dropped their price target on Biohaven from $63.00 to $59.00 and set a "buy" rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price objective on Biohaven from $32.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, February 23rd. UBS Group lifted their target price on shares of Biohaven from $59.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, April 23rd. Finally, TD Cowen increased their target price on shares of Biohaven from $35.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, March 1st. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $51.63.

Biohaven Trading Up 3.7 %

BHVN stock traded up $1.37 during midday trading on Thursday, hitting $38.45. 587,967 shares of the company's stock were exchanged, compared to its average volume of 1,243,853. Biohaven has a 1-year low of $13.53 and a 1-year high of $62.21. The stock has a market capitalization of $3.39 billion, a PE ratio of -5.43 and a beta of 1.26. The business has a 50-day simple moving average of $48.06 and a two-hundred day simple moving average of $43.04.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.40). As a group, research analysts expect that Biohaven will post -5.79 EPS for the current fiscal year.

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.