Biohaven Target of Unusually Large Options Trading (NYSE:BHVN)

Biohaven Ltd. (NYSE:BHVN) was the recipient of unusually large options trading on Wednesday. Stock investors bought 33,931 call options on the stock. This represents an increase of 674% compared to the typical volume of 4,382 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BHVN. KBC Group NV grew its stake in Biohaven by 35.0% during the 1st quarter. KBC Group NV now owns 4,560 shares of the company’s stock worth $110,000 after buying an additional 1,183 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Biohaven by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 302,280 shares of the company’s stock worth $7,267,000 after buying an additional 7,202 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Biohaven during the 1st quarter worth approximately $1,545,000. Brown Advisory Inc. grew its stake in Biohaven by 4.6% during the 1st quarter. Brown Advisory Inc. now owns 1,020,117 shares of the company’s stock worth $24,524,000 after buying an additional 44,532 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust grew its stake in Biohaven by 5.3% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 238,361 shares of the company’s stock worth $5,730,000 after buying an additional 11,967 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Stock Down 37.2%

Shares of NYSE BHVN traded down $5.19 during midday trading on Wednesday, hitting $8.76. 19,206,449 shares of the company’s stock were exchanged, compared to its average volume of 1,933,242. The company has a debt-to-equity ratio of 1.91, a current ratio of 3.82 and a quick ratio of 3.82. Biohaven has a twelve month low of $7.80 and a twelve month high of $54.98. The company has a market cap of $926.72 million, a PE ratio of -1.15 and a beta of 1.10. The firm’s fifty day simple moving average is $15.56 and its 200-day simple moving average is $15.88.

Biohaven (NYSE:BHVN) last issued its earnings results on Monday, August 11th. The company reported ($1.94) earnings per share for the quarter, hitting the consensus estimate of ($1.94). Research analysts predict that Biohaven will post -8.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. BTIG Research upped their target price on Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, August 19th. Raymond James Financial reiterated a “strong-buy” rating on shares of Biohaven in a report on Wednesday. Cowen reissued a “buy” rating on shares of Biohaven in a research note on Wednesday. Leerink Partners decreased their target price on Biohaven from $60.00 to $50.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Biohaven in a research report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Biohaven currently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

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.