Biohaven (NYSE:BHVN) Reaches New 12-Month Low – Here’s What Happened

Shares of Biohaven Ltd. (NYSE:BHVN) reached a new 52-week low during trading on Friday . The company traded as low as $26.57 and last traded at $27.59, with a volume of 1090048 shares changing hands. The stock had previously closed at $28.39.

Analyst Ratings Changes

Several research analysts have recently weighed in on BHVN shares. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Biohaven and gave the stock a “buy” rating in a research report on Thursday, March 20th. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price target on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, HC Wainwright restated a “buy” rating and set a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $62.77.

Biohaven Price Performance

The stock’s 50 day simple moving average is $35.15 and its 200-day simple moving average is $41.36. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of -2.95 and a beta of 1.27.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, equities research analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs purchased 29,000 shares of the stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the transaction, the director now owns 2,368,741 shares in the company, valued at $85,132,551.54. This trade represents a 1.24 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Several hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC lifted its holdings in shares of Biohaven by 6.1% during the fourth quarter. HighTower Advisors LLC now owns 5,870 shares of the company’s stock worth $219,000 after buying an additional 335 shares during the last quarter. Franklin Resources Inc. increased its position in Biohaven by 0.5% during the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock worth $4,206,000 after acquiring an additional 412 shares during the period. FSC Wealth Advisors LLC raised its stake in Biohaven by 3.3% during the 4th quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company’s stock valued at $579,000 after purchasing an additional 500 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Biohaven by 9.4% in the 4th quarter. Prudential Financial Inc. now owns 5,980 shares of the company’s stock valued at $223,000 after purchasing an additional 514 shares during the period. Finally, Amalgamated Bank grew its position in Biohaven by 21.9% in the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock worth $109,000 after purchasing an additional 527 shares during the last quarter. Institutional investors 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.