Biohaven director Bailey Gregory buys $221k worth of shares

In a recent transaction, Bailey Gregory, a director at Biohaven Ltd. (NYSE:BHVN), purchased 5000 shares of the company's stock at an average price of $44.19 per share, totaling approximately $221,000. The acquisition took place on September 24, as reported in a regulatory filing with the Securities and Exchange Commission.

The shares were bought in multiple transactions at prices ranging from $44.13 to $44.20. Following the purchase, Gregory now owns a total of 1,620,071 Biohaven shares directly.

Biohaven Ltd., known for its focus on pharmaceutical preparations, has seen varied activities in the market with its common shares. Transactions like these are often closely watched by investors as they can indicate confidence in the company's future performance by its own directors.

This purchase by a key member of Biohaven's board underscores a commitment to the company amidst its endeavors in the pharmaceutical industry. As Biohaven continues to develop its portfolio, investors and shareholders alike may take an interest in the trading patterns of its directors for insights into the company's health and prospects.



In other recent news, Biohaven Pharmaceutical Holding has been making strides with its investigational drug troriluzole for the treatment of spinal cerebellar ataxia (SCA). Leerink Partners increased Biohaven's stock price target from $55.00 to $60.00, maintaining an Outperform rating, reflecting a positive outlook on the drug's efficacy. Similarly, H.C. Wainwright reiterated a Buy rating and a $59.00 price target following the announcement of positive topline data for troriluzole in treating SCA.

Biohaven also received a Buy rating from BofA Securities, which raised the price target to $62 from $52. This adjustment was based on the potential increase in the likelihood of Biohaven securing FDA approval for troriluzole in 2025. RBC Capital also increased its price target to $68 from $59, maintaining an Outperform rating on the stock.

Furthermore, TD Cowen reiterated a Buy rating with a steady price target of $55.00, following the announcement of successful clinical trial results for troriluzole. These are among the recent developments that have led to increased optimism from various analyst firms about Biohaven's prospects.
InvestingPro Insights


Following the recent purchase of Biohaven shares by director Bailey Gregory, investors may be looking for additional data to gauge the company's financial health and market performance. According to real-time data from InvestingPro, Biohaven Ltd. (NYSE:BHVN) holds a market capitalization of $4.34 billion. Despite the company's challenges, such as weak gross profit margins and expectations of a net income drop this year, Biohaven's management seems to be showing confidence in its strategies and future.

InvestingPro Tips highlight that Biohaven currently holds more cash than debt on its balance sheet, suggesting a stable financial position. Additionally, the company's liquid assets exceed its short-term obligations, which can be a positive sign for investors concerned about the company's ability to meet its immediate financial commitments. It's worth noting that while the stock's RSI indicates it may be in overbought territory, Biohaven has experienced a significant return over the last week, with a price total return of 14.31%.

For those interested in digging deeper, there are 13 additional InvestingPro Tips available, providing a comprehensive analysis of Biohaven's financial metrics and market performance (https://www.investing.com/pro/BHVN). These insights could prove invaluable for investors considering Biohaven as part of their portfolio.

Despite not paying dividends, Biohaven's stock has had a high return over the last year, with a 161.25% price total return, which may attract growth-focused investors. The company's Price / Book ratio stands at 11.1, which is considered high, indicating that the stock is trading at a premium compared to the company's book value. This could suggest investor optimism about Biohaven's growth prospects or intellectual property value.

As Biohaven continues its journey in the pharmaceutical industry, these financial metrics and InvestingPro Tips offer valuable insights for investors assessing the company's current standing and future potential.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Source: Investing.com