Biohaven Ltd. (NYSE:BHVN) Short Interest Up 5.1% in August

Biohaven Ltd. (NYSE:BHVN) saw a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 10,290,000 shares, a growth of 5.1% from the July 31st total of 9,790,000 shares. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is currently 9.4 days.

Insiders Place Their Bets

In related news, Director John W. Childs bought 28,400 shares of Biohaven stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the purchase, the director now owns 2,339,741 shares in the company, valued at $83,458,561.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biohaven

Several large investors have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its holdings in Biohaven by 27.9% during the 4th quarter. New York State Common Retirement Fund now owns 41,276 shares of the company’s stock worth $1,767,000 after buying an additional 9,000 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Biohaven during the 4th quarter worth $6,784,000. Swiss National Bank raised its stake in Biohaven by 5.2% during the 4th quarter. Swiss National Bank now owns 134,100 shares of the company’s stock worth $5,739,000 after buying an additional 6,600 shares during the period. Private Advisor Group LLC acquired a new stake in Biohaven during the 4th quarter worth $231,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Biohaven by 20.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,904 shares of the company’s stock worth $22,209,000 after buying an additional 86,890 shares during the period. 88.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BHVN has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Monday, August 19th. UBS Group cut their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research note on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $59.00 price objective on shares of Biohaven in a research note on Wednesday. Finally, Morgan Stanley initiated coverage on Biohaven in a report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 target price on the stock. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Biohaven has an average rating of “Buy” and an average price target of $54.44.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $37.86 on Thursday. Biohaven has a fifty-two week low of $16.45 and a fifty-two week high of $62.21. The business has a 50-day moving average of $37.73 and a two-hundred day moving average of $41.91. The stock has a market capitalization of $3.34 billion, a P/E ratio of -5.54 and a beta of 1.30.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($1.92). As a group, research analysts expect that Biohaven will post -8.92 EPS for the current fiscal year.

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.