Biohaven (NYSE:BHVN) Shares Up 3.5%

Biohaven Ltd. (NYSE:BHVNGet Free Report)’s share price shot up 3.5% during trading on Tuesday . The company traded as high as $34.21 and last traded at $34.16. 42,526 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 1,254,614 shares. The stock had previously closed at $32.99.

Analysts Set New Price Targets

BHVN has been the subject of several recent analyst reports. TD Cowen increased their target price on Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 price objective on shares of Biohaven in a research note on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Thursday, May 30th. UBS Group raised their price target on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Thursday, May 30th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Biohaven has a consensus rating of “Buy” and a consensus price target of $54.71.

View Our Latest Stock Report on Biohaven

Biohaven Stock Up 1.2 %

The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -4.83 and a beta of 1.22. The business has a fifty day simple moving average of $38.85 and a two-hundred day simple moving average of $44.05.

Biohaven (NYSE:BHVNGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($2.20) EPS for the quarter, missing the consensus estimate of ($1.50) by ($0.70). As a group, equities analysts predict that Biohaven Ltd. will post -7.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gregory Bailey purchased 48,780 shares of Biohaven stock in a transaction on Monday, April 22nd. The shares were purchased at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the completion of the transaction, the director now directly owns 1,574,568 shares in the company, valued at $64,557,288. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Gregory Bailey acquired 48,780 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was bought at an average price of $41.00 per share, with a total value of $1,999,980.00. Following the completion of the acquisition, the director now owns 1,574,568 shares in the company, valued at approximately $64,557,288. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vlad Coric bought 121,951 shares of Biohaven stock in a transaction dated Monday, April 22nd. The stock was acquired at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,788,417 shares in the company, valued at $73,325,097. The disclosure for this purchase can be found here. Insiders bought 252,734 shares of company stock worth $9,997,764 in the last quarter. 16.00% of the stock is owned by corporate insiders.

Institutional Trading of Biohaven

Hedge funds and other institutional investors have recently made changes to their positions in the business. Thompson Davis & CO. Inc. acquired a new position in Biohaven during the 4th quarter worth $214,000. Prevail Innovative Wealth Advisors LLC acquired a new stake in Biohaven in the fourth quarter worth about $230,000. Private Advisor Group LLC bought a new stake in Biohaven during the 4th quarter worth about $231,000. Capstone Investment Advisors LLC acquired a new position in Biohaven during the 4th quarter valued at about $235,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Biohaven in the 3rd quarter valued at about $236,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

About Biohaven

(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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