Emerald Advisers LLC Acquires New Holdings in Biohaven Ltd. (NYSE:BHVN)

Emerald Advisers LLC acquired a new position in Biohaven Ltd. (NYSE:BHVN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 360,538 shares of the company's stock, valued at approximately $13,466,000. Emerald Advisers LLC owned approximately 0.36% of Biohaven at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BHVN. Spire Wealth Management bought a new stake in shares of Biohaven during the 4th quarter worth about $56,000. Amalgamated Bank increased its stake in shares of Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock valued at $109,000 after acquiring an additional 527 shares during the period. US Bancorp DE raised its holdings in Biohaven by 36.7% during the fourth quarter. US Bancorp DE now owns 2,971 shares of the company's stock worth $111,000 after purchasing an additional 798 shares in the last quarter. KBC Group NV lifted its position in Biohaven by 50.1% in the fourth quarter. KBC Group NV now owns 3,377 shares of the company's stock worth $126,000 after purchasing an additional 1,127 shares during the period. Finally, Diversified Trust Co boosted its stake in Biohaven by 16.6% during the 4th quarter. Diversified Trust Co now owns 5,585 shares of the company's stock valued at $209,000 after purchasing an additional 795 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Stock Down 1.8 %

Shares of BHVN traded down $0.51 during mid-day trading on Thursday, reaching $28.35. The company's stock had a trading volume of 603,583 shares, compared to its average volume of 1,049,396. The company has a market cap of $2.89 billion, a price-to-earnings ratio of -3.03 and a beta of 1.27. The business has a fifty day moving average of $35.35 and a 200 day moving average of $41.38. Biohaven Ltd. has a 1 year low of $26.80 and a 1 year high of $57.02.

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

Insider Transactions at Biohaven

In related news, Director John W. Childs purchased 32,700 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, with a total value of $996,369.00. Following the completion of the purchase, the director now owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. The trade was a 1.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BHVN has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. HC Wainwright reissued a "buy" rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley lowered their price objective on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a report on Tuesday, December 17th. Fourteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $62.77.

Biohaven 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.