$5.6 Million Bet On This Healthcare Stock? 3 Stocks Insiders Are Buying

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

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Biohaven Pharmaceutical Holding

• The Trade: 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 around $5.63 million.
• What’s 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 disorders.

JELD-WEN Holding

• The Trade: JELD-WEN Holding, Inc. JELD 10% owner Turtle Creek Asset Management Inc acquired a total 81,500 shares at an average price of $12.68. To acquire these shares, it cost around $1.03 million.
• What’s Happening: Deutsche Bank recently initiated coverage on 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 door and window manufacturing. The company design, produce and distribute interior and exterior building product, offering a selection of doors, windows, walls, and related products.

Don’t forget to check out our premarket coverage here .

Also check this: Booking Holdings To $2,300? Here Are 5 Other Price Target Changes For Tuesday

NuStar Energy

• The Trade: NuStar Energy L.P. NS Director William E Greehey bought a total of 110,299 shares at an average price of $15.81. To acquire these shares, it cost around $1.74 million.
• What’s Happening: The company recently reported Q2 results.
• What NuStar Energy Does: NuStar Energy LP is a US-based pipeline and terminal operator.