Investors Buy High Volume of Biohaven Call Options (NYSE:BHVN)

Biohaven Ltd. (NYSE:BHVN - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Investors purchased 7,638 call options on the company. This represents an increase of approximately 588% compared to the average volume of 1,110 call options.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs acquired 32,700 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the acquisition, the director now directly owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.00% of the stock is owned by company insiders.

Institutional Trading of Biohaven

Several large investors have recently modified their holdings of BHVN. Vanguard Group Inc. boosted its holdings in Biohaven by 8.1% in the fourth quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock valued at $314,267,000 after purchasing an additional 628,211 shares during the last quarter. Janus Henderson Group PLC boosted its stake 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 valued at $260,735,000 after buying an additional 756,032 shares during the last quarter. Stifel Financial Corp grew its position in shares of Biohaven by 0.8% during the fourth quarter. Stifel Financial Corp now owns 6,559,313 shares of the company's stock worth $244,990,000 after buying an additional 50,052 shares in the last quarter. Suvretta Capital Management LLC raised its holdings in Biohaven by 8.1% in the fourth quarter. Suvretta Capital Management LLC now owns 5,620,271 shares of the company's stock valued at $209,917,000 after acquiring an additional 421,052 shares in the last quarter. Finally, Farallon Capital Management LLC boosted its stake in Biohaven by 21.6% during the 4th quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company's stock valued at $165,392,000 after acquiring an additional 785,578 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Price Performance

Biohaven stock traded down $2.67 during midday trading on Friday, hitting $20.74. 2,913,800 shares of the company were exchanged, compared to its average volume of 1,236,813. The company has a market cap of $2.12 billion, a PE ratio of -2.23 and a beta of 1.33. Biohaven has a fifty-two week low of $15.79 and a fifty-two week high of $55.70. The company's fifty day moving average price is $26.83 and its 200-day moving average price is $37.83.

Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29). On average, analysts expect that Biohaven will post -8.9 EPS for the current fiscal year.

Analyst Ratings Changes

BHVN has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price target on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Morgan Stanley dropped their price target on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and set a $54.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the company a "buy" rating in a research note on Thursday, March 20th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 target price 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $62.77.

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.