Core Viewpoint - Biohaven Ltd's stock has declined 3.2% to $10.46 following reports that its drug for treating major depressive disorder failed to meet the primary goal of a phase 2 trial [1] Group 1: Stock Performance - The stock has faced overhead pressure at $12 for several weeks and has been on a downtrend throughout the year, reaching a three-year low of $7.49 on November 11 [1] - Year-to-date, Biohaven Ltd has lost over 70% of its value [1] Group 2: Analyst Ratings and Price Targets - Despite the stock's poor performance, 11 out of 18 analysts maintain a "strong buy" rating, with a 12-month consensus target price of $19.80, representing an 83.2% premium to current levels [2] Group 3: Options Activity - Recent options activity shows a preference for calls, with traders buying 7,974 calls compared to 2,150 puts over the past two weeks [2] - However, today's options trading indicates a higher volume of puts, with 2,105 calls and 3,034 puts traded, which is seven times the intraday average [3] - The most active option is the January 16, 2026, 10-strike put [3]