Biohaven (NYSE:BHVN) Shares Gap Down – What’s Next?

Biohaven Ltd. (NYSE:BHVN) shares gapped down prior to trading on Friday . The stock had previously closed at $10.81, but opened at $9.67. Biohaven shares last traded at $10.4180, with a volume of 1,184,023 shares traded.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Citigroup reissued a “buy” rating on shares of Biohaven in a report on Friday. Cowen restated a “buy” rating on shares of Biohaven in a report on Wednesday, November 5th. HC Wainwright reaffirmed a “neutral” rating and issued a $11.00 price target on shares of Biohaven in a report on Friday. TD Cowen cut their price objective on Biohaven from $50.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Biohaven currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.93.

Biohaven Stock Up 2.8%

The firm has a market cap of $1.18 billion, a PE ratio of -1.46 and a beta of 1.13. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.86 and a quick ratio of 2.86. The business has a fifty day moving average price of $11.36 and a two-hundred day moving average price of $13.59.

Biohaven (NYSE:BHVN) last issued its earnings results on Monday, November 10th. The company reported ($1.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.27. On average, analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Insider Transactions at Biohaven

In other news, Director Gregory Bailey acquired 400,000 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $7.50 per share, for a total transaction of $3,000,000.00. Following the completion of the acquisition, the director owned 2,020,071 shares of the company’s stock, valued at approximately $15,150,532.50. This represents a 24.69% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO George C. Clark acquired 17,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average cost of $8.52 per share, for a total transaction of $144,840.00. Following the transaction, the chief accounting officer owned 20,000 shares of the company’s stock, valued at approximately $170,400. This represents a 566.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 4,416,999 shares of company stock worth $33,144,833 in the last ninety days. Company insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

A number of institutional investors and hedge funds have recently modified their holdings of BHVN. Bellevue Group AG increased its stake in shares of Biohaven by 37.3% in the second quarter. Bellevue Group AG now owns 2,802,853 shares of the company’s stock worth $39,548,000 after purchasing an additional 762,000 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Biohaven by 31.2% during the second quarter. JPMorgan Chase & Co. now owns 2,572,042 shares of the company’s stock worth $36,292,000 after buying an additional 612,209 shares during the last quarter. Armistice Capital LLC boosted its position in shares of Biohaven by 27.6% in the second quarter. Armistice Capital LLC now owns 2,136,000 shares of the company’s stock valued at $30,139,000 after acquiring an additional 462,578 shares during the period. Geode Capital Management LLC grew its stake in shares of Biohaven by 3.7% in the second quarter. Geode Capital Management LLC now owns 2,030,919 shares of the company’s stock worth $28,660,000 after acquiring an additional 71,939 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in shares of Biohaven by 19.1% in the second quarter. Holocene Advisors LP now owns 1,495,641 shares of the company’s stock worth $21,103,000 after acquiring an additional 239,889 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Company Profile

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.