Biohaven Ltd. (NYSE:BHVN) Short Interest Update

Biohaven Ltd. (NYSE:BHVN - Get Free Report) was the target of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 9,440,000 shares, a decrease of 5.0% from the January 15th total of 9,940,000 shares. Based on an average daily volume of 972,100 shares, the days-to-cover ratio is currently 9.7 days.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BHVN. Cantor Fitzgerald reissued an "overweight" rating on shares of Biohaven in a research report on Tuesday, December 17th. TD Cowen raised their target price on shares of Biohaven from $55.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. HC Wainwright reaffirmed a "buy" rating and issued a $59.00 target price on shares of Biohaven in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 target price (up previously from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Biohaven in a report on Tuesday, February 11th. They issued a "buy" rating and a $65.00 target price on the stock. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Biohaven presently has a consensus rating of "Buy" and an average target price of $63.15.

Biohaven Stock Down 7.2 %

Biohaven stock traded down $2.87 during mid-day trading on Friday, hitting $36.90. The company had a trading volume of 835,605 shares, compared to its average volume of 889,993. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of -3.95 and a beta of 1.28. Biohaven has a 1 year low of $26.80 and a 1 year high of $62.21. The business has a fifty day moving average of $38.38 and a 200 day moving average of $42.69.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs purchased 29,000 shares of Biohaven stock in a transaction dated Monday, December 30th. The shares were acquired at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the transaction, the director now owns 2,368,741 shares of the company's stock, valued at $85,132,551.54. This trade represents a 1.24 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 16.00% of the company's stock.

Hedge Funds Weigh In On Biohaven

A number of hedge funds have recently modified their holdings of BHVN. Creative Planning grew its position in shares of Biohaven by 57.9% during the third quarter. Creative Planning now owns 18,209 shares of the company's stock worth $910,000 after acquiring an additional 6,674 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Biohaven during the third quarter worth approximately $50,000. Values First Advisors Inc. purchased a new position in shares of Biohaven during the third quarter worth approximately $78,000. US Bancorp DE grew its position in shares of Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company's stock worth $109,000 after acquiring an additional 790 shares during the last quarter. Finally, VELA Investment Management LLC grew its position in shares of Biohaven by 25.6% during the third quarter. VELA Investment Management LLC now owns 17,530 shares of the company's stock worth $876,000 after acquiring an additional 3,572 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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.