Biohaven Ltd. (NYSE:BHVN) Short Interest Update

Biohaven Ltd. (NYSE:BHVN) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 9,260,000 shares, a drop of 5.8% from the May 31st total of 9,830,000 shares. Based on an average trading volume of 1,360,000 shares, the short-interest ratio is presently 6.8 days.

Biohaven Trading Down 1.1 %

Shares of BHVN stock traded down $0.38 during mid-day trading on Wednesday, reaching $33.79. The stock had a trading volume of 364,619 shares, compared to its average volume of 1,290,315. Biohaven has a 12-month low of $16.45 and a 12-month high of $62.21. The business has a 50-day simple moving average of $36.35 and a 200 day simple moving average of $44.01.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.50) by ($0.70). On average, analysts forecast that Biohaven will post -7.16 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gregory Bailey bought 25,503 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average cost of $39.18 per share, for a total transaction of $999,207.54. Following the completion of the purchase, the director now owns 1,600,071 shares of the company’s stock, valued at $62,690,781.78. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other Biohaven news, Director Gregory Bailey purchased 25,503 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were bought at an average cost of $39.18 per share, for a total transaction of $999,207.54. Following the completion of the purchase, the director now directly owns 1,600,071 shares in the company, valued at $62,690,781.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Childs purchased 28,500 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $35.17 per share, with a total value of $1,002,345.00. Following the completion of the acquisition, the director now directly owns 2,283,341 shares in the company, valued at $80,305,102.97. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 252,734 shares of company stock worth $9,997,764. Corporate insiders own 16.00% of the company’s stock.

Institutional Trading of Biohaven

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. acquired a new stake in shares of Biohaven during the 4th quarter worth about $214,000. Prevail Innovative Wealth Advisors LLC acquired a new position in Biohaven in the 4th quarter valued at $230,000. Private Advisor Group LLC acquired a new stake in shares of Biohaven during the fourth quarter worth $231,000. Capstone Investment Advisors LLC acquired a new position in Biohaven in the fourth quarter valued at $235,000. Finally, Cypress Wealth Services LLC acquired a new stake in Biohaven in the 1st quarter worth about $326,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on BHVN. HC Wainwright reiterated a “buy” rating and set a $59.00 price target on shares of Biohaven in a research note on Thursday, May 30th. UBS Group raised their price target on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and set a $59.00 target price on shares of Biohaven in a research report on Tuesday, June 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research report on Thursday, May 30th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Biohaven currently has a consensus rating of “Buy” and an average price target of $54.71.

About Biohaven

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.