The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Biohaven Pharmaceutical Holding Company Ltd. shares valued at $5,625,676 were purchased by Bailey Gregory on Aug 19. At $148.04 per share, Bailey Gregory acquired 38,000 shares. The insider’s holdings grew to 2,583,658 shares worth approximately $390.52 million following the completion of this transaction.
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Also, Clark George C. sold 4,200 shares, netting a total of over 594,300 in proceeds. Following the sale of shares at $141.50 each, the insider now holds 4,065 shares.
Before that, Clark George C. had sold 9,375 shares from its account. In a trade valued at $1,097,003, the VP, Chief Accounting Officer traded Biohaven Pharmaceutical Holding Company Ltd. shares for $117.01 each. Upon closing the transaction, the insider’s holdings decreased to 9,375 shares, worth approximately $0.91 million.
As published in a research note from Piper Sandler on August 19, 2022, Biohaven Pharmaceutical Holding Company Ltd. [BHVN] has been rated down from an Overweight to a Neutral and the price target has been revised to $149. This represents a -1.44% premium over Wednesday’s closing price. Analysts at Wedbush downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early August. As of May 11, 2022, SVB Leerink has decreased its “an Outperform” rating to a “Mkt perform” for BHVN.
Analyzing BHVN’s Price Performance
On Wednesday, Biohaven Pharmaceutical Holding Company Ltd. [NYSE: BHVN] plunged -0.07% to $151.15. The stock’s lowest price that day was $151.01, but it reached a high of $151.35 in the same session. During the last five days, there has been a surge of approximately 0.02%. Over the course of the year, Biohaven Pharmaceutical Holding Company Ltd. shares have jumped approximately 9.68%. Shares of the company reached a 52-week high of $151.50 on 09/19/22 and a 52-week low of $79.01 on 04/29/22. A 50-day SMA is recorded $148.11, while a 200-day SMA reached $131.86. Nevertheless, trading volume fell to 1.01 million shares from 0.9 million shares the previous day.
Support And Resistance Levels for Biohaven Pharmaceutical Holding Company Ltd. (BHVN)
According to the 24-hour chart, there is a support level at 150.99, which, if violated, would cause prices to drop to 150.83. In the upper region, resistance lies at 151.33. The next price resistance is at 151.51. RSI (Relative Strength Index) is 74.87 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.51, which suggests the price will decrease in the coming days. Percent R is at 14.64%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Biohaven Pharmaceutical Holding Company Ltd. subject to short interest?
Stocks of Biohaven Pharmaceutical Holding Company Ltd. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.76 million shares to 5.21 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 4.45 million shares. A jump of 14.59% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.69 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.69.
Which companies own the most shares of Biohaven Pharmaceutical Holding Company Ltd. (BHVN)?
According to BlackRock Fund Advisors filings, the company currently owns 4,173,416 shares, which is about 5.84% of the total BHVN shares outstanding. The investor’s shares have appreciated by 376,957 from its previous 13-F filing of 3796459.0 shares. With the completion of the buy transaction, 1919 Investment Counsel LLC’s stake is now worth $458,366,650. Adage Capital Management LP acquire a 1,499.52% interest valued at $453.89 million while Capital Research & Management Co sold a -3,999,905 stake. A total of -472,660 shares of Biohaven Pharmaceutical Holding Company Ltd. were sold by Marshall Wace LLP during the quarter, and 89,212 were bought by SSgA Funds Management, Inc. In its current portfolio, Capital Research & Management Co holds 1,525,365 shares valued at $227.81 million.
In terms of Biohaven Pharmaceutical Holding Company Ltd. share price expectations, FactSet research, analysts set an average price target of $151.00 in the next 12 months, down nearly -1.65% from the previous closing price of $151.25. Analysts anticipate Biohaven Pharmaceutical Holding Company Ltd. stock to reach $158.00 by 2022, with the lowest price target being $148.50. In spite of this, 5 analysts ranked Biohaven Pharmaceutical Holding Company Ltd. stock as a Hold at the end of 2022. On August 10, 2021, UBS assigned a price target of “a Neutral” to the stock and downgraded coverage with a $109.