John Childs Buys 3,333,333 Shares of Biohaven (NYSE:BHVN) Stock

Biohaven Ltd. (NYSE:BHVN) Director John Childs purchased 3,333,333 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were acquired at an average cost of $7.50 per share, with a total value of $24,999,997.50. Following the completion of the transaction, the director directly owned 5,653,904 shares of the company’s stock, valued at $42,404,280. The trade was a 143.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Biohaven Stock Up 14.1%

BHVN stock opened at $9.43 on Wednesday. The stock has a market cap of $998.47 million, a P/E ratio of -1.24 and a beta of 1.10. The company has a current ratio of 2.86, a quick ratio of 2.86 and a debt-to-equity ratio of 1.91. The stock’s fifty day simple moving average is $14.13 and its two-hundred day simple moving average is $14.94. Biohaven Ltd. has a 1-year low of $7.48 and a 1-year high of $47.75.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, November 10th. The company reported ($1.64) EPS for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.27. Analysts expect that Biohaven Ltd. will post -8.9 EPS for the current year.

Hedge Funds Weigh In On Biohaven

Several hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its stake in shares of Biohaven by 53.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,783 shares of the company’s stock valued at $43,000 after acquiring an additional 623 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Biohaven by 0.4% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 173,656 shares of the company’s stock worth $2,607,000 after purchasing an additional 657 shares during the period. RWA Wealth Partners LLC lifted its position in Biohaven by 7.0% in the first quarter. RWA Wealth Partners LLC now owns 12,622 shares of the company’s stock valued at $303,000 after purchasing an additional 822 shares during the last quarter. SVB Wealth LLC bought a new stake in Biohaven in the first quarter valued at approximately $25,000. Finally, Elkhorn Partners Limited Partnership grew its holdings in shares of Biohaven by 26.1% in the second quarter. Elkhorn Partners Limited Partnership now owns 5,800 shares of the company’s stock worth $82,000 after purchasing an additional 1,200 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Biohaven in a research report on Monday. Morgan Stanley reduced their price objective on Biohaven from $54.00 to $26.00 and set an “overweight” rating for the company in a report on Tuesday. TD Cowen lowered their target price on Biohaven from $50.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Royal Bank Of Canada dropped their price target on Biohaven from $19.00 to $9.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 6th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price objective (down previously from $54.00) on shares of Biohaven in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.21.

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.