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Biohaven (NYSE:BHVN) Shares Up 4.9% - Here's What Happened

Biohaven logo with Medical background

Biohaven Ltd. (NYSE:BHVN - Get Free Report)'s stock price rose 4.9% during mid-day trading on Monday . The company traded as high as $51.15 and last traded at $49.95. Approximately 712,426 shares were traded during trading, a decline of 40% from the average daily volume of 1,178,525 shares. The stock had previously closed at $47.63.

Wall Street Analyst Weigh In

BHVN has been the topic of a number of research analyst reports. UBS Group lowered their price target on Biohaven from $55.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. Bank of America upped their price target on Biohaven from $52.00 to $62.00 and gave the company a "buy" rating in a report on Tuesday, September 24th. William Blair raised Biohaven to a "strong-buy" rating in a report on Friday, August 30th. HC Wainwright reissued a "buy" rating and issued a $59.00 target price on shares of Biohaven in a report on Tuesday, September 24th. Finally, Royal Bank of Canada increased their target price on Biohaven from $59.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, September 24th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $61.92.

Get Our Latest Stock Report on BHVN

Biohaven Stock Up 10.8 %

The firm has a 50 day moving average price of $40.47 and a 200 day moving average price of $40.17. The stock has a market cap of $4.66 billion, a P/E ratio of -7.62 and a beta of 1.31.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Equities analysts predict that Biohaven Ltd. will post -8.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Biohaven

In other news, Director John W. Childs purchased 21,052 shares of the business's stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares of the company's stock, valued at $999,970. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now directly owns 1,620,071 shares of the company's stock, valued at approximately $71,590,937.49. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John W. Childs acquired 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The disclosure for this purchase can be found here. Insiders bought 54,452 shares of company stock worth $2,233,948 in the last quarter. 16.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biohaven

A number of institutional investors and hedge funds have recently modified their holdings of BHVN. Seven Eight Capital LP bought a new stake in shares of Biohaven during the 4th quarter worth approximately $561,000. Lighthouse Investment Partners LLC bought a new stake in Biohaven during the 4th quarter valued at $1,325,000. Bellevue Group AG bought a new stake in Biohaven during the 4th quarter valued at $46,010,000. Point72 Asset Management L.P. raised its position in Biohaven by 142.2% during the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company's stock valued at $106,297,000 after purchasing an additional 1,458,072 shares in the last quarter. Finally, First Light Asset Management LLC bought a new stake in Biohaven during the 4th quarter valued at $16,425,000. 88.78% of the stock is owned by institutional investors.

Biohaven Company Profile

(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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