Insider Buying: Biohaven Ltd. (NYSE:BHVN) Director Buys $1,999,980.00 in Stock

Biohaven Ltd. (NYSE:BHVN) Director Gregory Bailey bought 48,780 shares of the stock in a transaction dated Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the acquisition, the director now owns 1,574,568 shares in the company, valued at approximately $64,557,288. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Gregory Bailey also recently made the following trade(s):

• On Wednesday, April 24th, Gregory Bailey bought 25,503 shares of Biohaven stock. The stock was purchased at an average cost of $39.18 per share, for a total transaction of $999,207.54.

Biohaven Price Performance

Biohaven stock opened at $38.54 on Friday. The company’s 50 day simple moving average is $51.32 and its 200 day simple moving average is $41.79. Biohaven Ltd. has a fifty-two week low of $12.35 and a fifty-two week high of $62.21. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -6.81 and a beta of 1.18.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) earnings per share for the quarter, missing the consensus estimate of ($1.41) by ($0.40). As a group, analysts predict that Biohaven Ltd. will post -5.85 EPS for the current fiscal year.

Institutional Trading of Biohaven

Several hedge funds have recently bought and sold shares of BHVN. FSC Wealth Advisors LLC raised its holdings in Biohaven by 50.0% during the 3rd quarter. FSC Wealth Advisors LLC now owns 15,000 shares of the company’s stock worth $390,000 after buying an additional 5,000 shares during the period. Raymond James & Associates raised its holdings in shares of Biohaven by 104.3% in the third quarter. Raymond James & Associates now owns 27,545 shares of the company’s stock valued at $716,000 after purchasing an additional 14,065 shares during the last quarter. Weybosset Research & Management LLC raised its holdings in shares of Biohaven by 19.7% in the third quarter. Weybosset Research & Management LLC now owns 12,140 shares of the company’s stock valued at $316,000 after purchasing an additional 2,000 shares during the last quarter. Strs Ohio raised its holdings in shares of Biohaven by 99.2% in the third quarter. Strs Ohio now owns 24,100 shares of the company’s stock valued at $626,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Biohaven by 13.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,071 shares of the company’s stock valued at $990,000 after purchasing an additional 4,540 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group upped their price target on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Thursday, April 18th. TD Cowen upped their price target on shares of Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. HC Wainwright upped their price target on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday, April 9th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Biohaven currently has an average rating of “Buy” and a consensus target price of $52.13.

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.