A $5.6 million bet on this healthcare title? 3 stocks insiders buy

Although US stocks closed sharply lower on Monday, there were a few notable insider trades.

When insiders buy stocks, it indicates their confidence in the prospects of the company or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the title. Insider buying should not be considered the sole indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is an overview of some recent notable insider buys. To find out more, see Benzinga Insider Trading Platform.

Biohaven Pharmaceutical Holding

  • The exchange: Biohaven Pharmaceutical Holding Company Ltd. BHVN Director Gregory Bailey acquired a total of 38,000 shares at an average price of $148.04. To acquire these shares, it cost about $5.63 million.
  • What is happening: Piper Sandler recently downgraded Biohaven Pharma from overweight to neutral.
  • What Biohaven Pharmaceutical Holding does: Biohaven Pharmaceutical Holding Co Ltd is a clinical-stage biopharmaceutical company. It has a portfolio of late-stage product candidates targeting neurological diseases, including rare diseases.

JELD-WEN Holding

  • The exchange: JELD-WEN Holding, Inc. JELD 10% owner Turtle Creek Asset Management Inc. acquired a total of 81,500 shares at an average price of $12.68. To acquire these shares, it cost about $1.03 million.
  • What is happening: Deutsche Bank recently hedged JELD-WEN Holding with a Hold rating and announced a price target of $15.
  • What JELD-WEN does: JELD-WEN Holding Inc is engaged in the manufacture of doors and windows. The company designs, produces and distributes interior and exterior construction products, offering a selection of doors, windows, walls and related products.

Be sure to check out our pre-market coverage here.

Also check this: Reserve holdings at $2,300? Here are 5 more price target changes for Tuesday

NuStar Energy

  • The exchange: NuStar Energy LP BORN. Director William E Greehey purchased a total of 110,299 shares at an average price of $15.81. To acquire these shares, it cost about $1.74 million.
  • What is happening: The company recently released its second quarter results.
  • What NuStar Energy does: NuStar Energy LP is a United States-based pipeline and terminal operator.