John W. Childs, a director of Biohaven Ltd. (NYSE:BHVN), has bought 29,000 common shares of the company in a transaction dated December 30, 2024. The shares were acquired at an average price of approximately $35.9446, with the total transaction valued at $1,042,393. The purchase comes as analysts maintain a Strong Buy consensus on the $3.62 billion market cap company, with price targets ranging from $56 to $77. Following this purchase, Childs holds a significant number of shares through various trusts, including the John W. Childs 2013 Revocable Trust, which now owns 2,368,741 shares. This acquisition reflects Childs' continued investment in Biohaven, a company known for its pharmaceutical preparations. According to InvestingPro, the stock has demonstrated notable volatility while maintaining a FAIR financial health score. Get access to 12 additional InvestingPro Tips and comprehensive analysis in the Pro Research Report, available exclusively to subscribers.
In other recent news, Biohaven Pharmaceutical (TADAWUL:2070) Holding has made significant strides in research and development. H.C. Wainwright maintained a Buy rating on Biohaven shares, emphasizing the company's progress, notably the development of BHV-1300, which demonstrated a significant reduction in targeted IgG in its Multiple Ascending Dose study. Bernstein also reiterated its Outperform rating, highlighting the potential of Biohaven's degrader platform.
Biohaven's treatment, troriluzole, is expected to be resubmitted to the U.S. Food and Drug Administration, a development that RBC (TSX:RY) Capital Markets believes could generate over $1 billion in U.S. sales. The firm adjusted its price target for Biohaven to $61, maintaining an Outperform rating. TD (TSX:TD) Cowen also demonstrated confidence in Biohaven by raising the stock's price target to $75, highlighting upcoming milestones for the company.
Despite a setback in the Phase 3 trial for taldefgrobep alfa, a drug aimed at treating spinal muscular atrophy, Baird and Piper Sandler have maintained their Outperform and Overweight ratings respectively. Baird's optimism is fueled by promising indicators for Biohaven's upcoming Phase 2 obesity trial. These recent developments highlight Biohaven's commitment to its drug development programs and its potential market opportunities.
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