Biohaven Ltd. (NYSE:BHVN - Get Free Report)'s share price traded down 17.6% during mid-day trading on Friday . The stock traded as low as $22.47 and last traded at $19.29. 98,848 shares traded hands during trading, a decline of 91% from the average session volume of 1,111,225 shares. The stock had previously closed at $23.40.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Robert W. Baird decreased their target price on Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Monday. HC Wainwright reiterated a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Morgan Stanley decreased their price objective on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the company a "buy" rating in a research report on Thursday, March 20th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $62.54.
View Our Latest Report on BHVN
Biohaven Trading Up 9.7 %
The company has a market cap of $2.22 billion, a P/E ratio of -2.33 and a beta of 1.33. The business has a 50 day moving average price of $26.09 and a 200-day moving average price of $37.19.
Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29). On average, sell-side analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current year.
Insider Transactions at Biohaven
In related news, Director John W. Childs bought 32,700 shares of Biohaven stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average price of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now owns 2,320,571 shares of the company's stock, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.00% of the company's stock.
Institutional Trading of Biohaven
Several hedge funds and other institutional investors have recently modified their holdings of BHVN. JPMorgan Chase & Co. boosted its holdings in shares of Biohaven by 144.5% during the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company's stock worth $73,922,000 after buying an additional 1,169,721 shares during the period. Norges Bank bought a new stake in shares of Biohaven during the 4th quarter worth about $33,711,000. Farallon Capital Management LLC boosted its holdings in shares of Biohaven by 21.6% during the 4th quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company's stock worth $165,392,000 after buying an additional 785,578 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Biohaven by 12.1% during the 4th quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company's stock worth $260,735,000 after buying an additional 756,032 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock worth $314,267,000 after buying an additional 628,211 shares during the period. Institutional investors own 88.78% of the company's stock.
Biohaven Company Profile
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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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