Insider Buying: Biohaven Ltd. (NYSE:BHVN) Director Buys 29,000 Shares of Stock

Biohaven Ltd. (NYSE:BHVN - Get Free Report) Director John W. Childs purchased 29,000 shares of the firm's stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the purchase, the director now owns 2,368,741 shares of the company's stock, valued at $85,132,551.54. The trade was a 1.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Biohaven Price Performance

BHVN stock traded up $1.57 during trading on Tuesday, hitting $37.35. 1,170,722 shares of the company traded hands, compared to its average volume of 1,124,237. The company has a market cap of $3.78 billion, a PE ratio of -3.99 and a beta of 1.24. Biohaven Ltd. has a 1 year low of $26.80 and a 1 year high of $62.21. The stock's 50-day simple moving average is $45.02 and its 200 day simple moving average is $42.05.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.03). Research analysts expect that Biohaven Ltd. will post -8.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BHVN. Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a research note on Tuesday, December 17th. Sanford C. Bernstein upped their target price on Biohaven from $55.00 to $66.00 and gave the company an "outperform" rating in a research report on Tuesday, September 24th. Bank of America lifted their price target on Biohaven from $52.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, September 24th. Royal Bank of Canada reiterated an "outperform" rating and set a $61.00 price target (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Finally, HC Wainwright restated a "buy" rating and issued a $59.00 price objective on shares of Biohaven in a research note on Tuesday, December 17th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $63.00.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BHVN. Algert Global LLC raised its holdings in Biohaven by 5.9% in the 2nd quarter. Algert Global LLC now owns 7,402 shares of the company's stock valued at $257,000 after acquiring an additional 412 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Biohaven by 0.5% in the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company's stock valued at $4,206,000 after purchasing an additional 412 shares in the last quarter. KBC Group NV increased its holdings in shares of Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company's stock valued at $112,000 after purchasing an additional 443 shares during the last quarter. Hsbc Holdings PLC lifted its position in Biohaven by 6.1% during the second quarter. Hsbc Holdings PLC now owns 8,291 shares of the company's stock worth $286,000 after buying an additional 480 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Biohaven by 19.1% during the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company's stock worth $156,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company's stock.

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.