Biohaven Ltd. (NYSE:BHVN) Sees Large Decrease in Short Interest

Biohaven Ltd. (NYSE:BHVN) saw a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 9,440,000 shares, a drop of 5.0% from the January 15th total of 9,940,000 shares. Based on an average daily volume of 972,100 shares, the days-to-cover ratio is currently 9.7 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BHVN shares. TD Cowen lifted their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Biohaven in a report on Tuesday, February 11th. They set a “buy” rating and a $65.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $59.00 price target on shares of Biohaven in a report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price (up previously from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $63.15.

Biohaven Stock Down 0.8 %

Shares of BHVN opened at $41.45 on Tuesday. The stock has a market capitalization of $4.19 billion, a P/E ratio of -4.43 and a beta of 1.28. The firm has a fifty day simple moving average of $38.53 and a two-hundred day simple moving average of $42.71. Biohaven has a twelve month low of $26.80 and a twelve month high of $62.21.

Insider Transactions at Biohaven

In related news, Director John W. Childs bought 29,000 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the purchase, the director now owns 2,368,741 shares in the company, valued at $85,132,551.54. This represents a 1.24 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in shares of Biohaven during the 3rd quarter valued at about $50,000. Spire Wealth Management purchased a new stake in Biohaven during the fourth quarter valued at approximately $56,000. Values First Advisors Inc. bought a new position in Biohaven in the third quarter worth approximately $78,000. US Bancorp DE boosted its stake in shares of Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after acquiring an additional 790 shares during the last quarter. Finally, Amalgamated Bank grew its position in shares of Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after acquiring an additional 527 shares during the period. Hedge funds and other 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.