Biohaven (NYSE:BHVN) Trading Up 8.4% Following Analyst Upgrade

Biohaven Ltd. (NYSE:BHVN) shares traded up 8.4% on Monday after The Goldman Sachs Group upgraded the stock to a strong-buy rating. The company traded as high as $12.61 and last traded at $12.58. 878,595 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 2,967,929 shares. The stock had previously closed at $11.60.

A number of other brokerages have also commented on BHVN. UBS Group downgraded shares of Biohaven from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $26.00 to $11.00 in a research note on Wednesday, November 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biohaven in a research report on Monday, December 29th. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Biohaven in a research report on Tuesday, November 18th. Raymond James Financial restated a “strong-buy” rating on shares of Biohaven in a research note on Wednesday, November 5th. Finally, Bank of America downgraded Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 price objective on the stock. in a report on Wednesday, November 5th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.40.

Insider Buying and Selling at Biohaven

In other news, CAO George C. Clark acquired 17,000 shares of Biohaven stock in a transaction that occurred on Monday, November 17th. The shares were acquired at an average price of $8.52 per share, with a total value of $144,840.00. Following the purchase, the chief accounting officer directly owned 20,000 shares of the company’s stock, valued at $170,400. The trade was a 566.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Childs acquired 3,333,333 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average price of $7.50 per share, with a total value of $24,999,997.50. Following the acquisition, the director owned 5,653,904 shares of the company’s stock, valued at approximately $42,404,280. This trade represents a 143.64% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 4,416,999 shares of company stock valued at $33,144,833 in the last three months. Insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Hedge funds and other institutional investors have recently modified their holdings of the company. Inceptionr LLC acquired a new position in shares of Biohaven during the 4th quarter worth approximately $413,000. Deutsche Bank AG increased its holdings in Biohaven by 11.4% during the fourth quarter. Deutsche Bank AG now owns 138,649 shares of the company’s stock worth $1,565,000 after buying an additional 14,236 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new position in Biohaven during the fourth quarter worth $118,000. Cerity Partners LLC bought a new stake in Biohaven during the fourth quarter worth $532,000. Finally, LPL Financial LLC lifted its stake in Biohaven by 8.8% in the fourth quarter. LPL Financial LLC now owns 42,175 shares of the company’s stock valued at $476,000 after acquiring an additional 3,404 shares during the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Trading Down 3.3%

The company has a market cap of $1.25 billion, a P/E ratio of -1.55 and a beta of 1.14. The business’s 50-day moving average price is $11.40 and its 200 day moving average price is $13.01. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.86 and a current ratio of 2.86.

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

About Biohaven

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.