EFG Asset Management North America Corp. Buys New Stake in Biohaven Ltd. (NYSE:BHVN)

EFG Asset Management North America Corp. bought a new stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 56,713 shares of the company's stock, valued at approximately $2,117,000. EFG Asset Management North America Corp. owned approximately 0.06% of Biohaven as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. HighTower Advisors LLC increased its position in Biohaven by 6.1% during the 4th quarter. HighTower Advisors LLC now owns 5,870 shares of the company's stock valued at $219,000 after buying an additional 335 shares in the last quarter. Franklin Resources Inc. boosted its stake in Biohaven by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 79,705 shares of the company's stock worth $4,206,000 after purchasing an additional 412 shares in the last quarter. FSC Wealth Advisors LLC grew its position in Biohaven by 3.3% during the 4th quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company's stock valued at $579,000 after purchasing an additional 500 shares during the last quarter. Prudential Financial Inc. increased its stake in Biohaven by 9.4% during the 4th quarter. Prudential Financial Inc. now owns 5,980 shares of the company's stock valued at $223,000 after purchasing an additional 514 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after buying an additional 527 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

BHVN has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. JPMorgan Chase & Co. reduced their target price on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Morgan Stanley lowered their price target on Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. HC Wainwright reiterated a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $61.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $62.77.

Biohaven Stock Performance

Shares of BHVN traded down $0.80 during mid-day trading on Friday, hitting $27.59. 1,090,072 shares of the stock were exchanged, compared to its average volume of 1,071,295. The firm has a 50-day moving average of $35.15 and a two-hundred day moving average of $41.36. Biohaven Ltd. has a 52-week low of $26.57 and a 52-week high of $55.72. The company has a market cap of $2.82 billion, a PE ratio of -2.95 and a beta of 1.27.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29). On average, sell-side analysts predict that Biohaven Ltd. will post -8.9 EPS for the current year.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs bought 32,700 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 16.00% of the stock is owned by insiders.

Biohaven Company Profile

Biohaven Ltd., together with its subsidiaries, focuses on discovering, developing, and commercializing therapies for immunology, neuroscience, and oncology worldwide. The company's pipeline products include Troriluzole, which is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500 that blocks glutamate signaling mediated by post-synaptic NMDA receptors; Taldefgrobep Alfa, which is in Phase 3 clinical trial for the treatment of spinal muscular atrophy and obesity; BHV-7000, a candidate in Phase 2/3 clinical trials for the treatment of focal and generalized epilepsy, bipolar disorder, and major depressive disorder; BHV-2100 that is in Phase 1 clinical trials for the treatment of migraines and neuropathic pain; and BHV-8000, a product candidate in Phase 1 clinical trials for the treatment of early Alzheimer's and Parkinson's disease, sclerosis, and amyloid-related imaging abnormalities.