Biohaven Ltd. (NYSE:BHVN) Short Interest Down 5.8% in June

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

Biohaven Price Performance

Shares of NYSE BHVN opened at $33.79 on Thursday. Biohaven has a 1 year low of $16.45 and a 1 year high of $62.21. The firm has a 50-day moving average of $36.25 and a 200 day moving average of $43.94.

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

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs bought 28,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were bought at an average cost of $35.58 per share, for a total transaction of $996,240.00. Following the purchase, the director now directly owns 2,311,341 shares of the company’s stock, valued at approximately $82,237,512.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director John W. Childs bought 28,500 shares of the stock in a transaction on Monday, May 13th. The shares were acquired at an average cost of $35.17 per share, for a total transaction of $1,002,345.00. Following the purchase, the director now directly owns 2,283,341 shares of the company’s stock, valued at approximately $80,305,102.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John W. Childs bought 28,000 shares of the stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $35.58 per share, for a total transaction of $996,240.00. Following the completion of the purchase, the director now directly owns 2,311,341 shares in the company, valued at $82,237,512.78. The disclosure for this purchase can be found here. Insiders have acquired 252,734 shares of company stock worth $9,997,764 in the last ninety days. Company insiders own 16.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Thompson Davis & CO. Inc. purchased a new position in Biohaven in the fourth quarter worth about $214,000. Prevail Innovative Wealth Advisors LLC purchased a new position in Biohaven in the fourth quarter worth about $230,000. Private Advisor Group LLC purchased a new position in Biohaven in the fourth quarter worth about $231,000. Capstone Investment Advisors LLC purchased a new position in Biohaven in the fourth quarter worth about $235,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Biohaven in the third quarter worth about $236,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BHVN has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $59.00 price target on shares of Biohaven in a report on Tuesday, June 18th. HC Wainwright reissued a “buy” rating and issued a $59.00 price target on shares of Biohaven in a report on Thursday, May 30th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Thursday, May 30th. Finally, UBS Group raised their price target on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price 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.