Emerald Advisers LLC purchased a new position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 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 quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Spire Wealth Management purchased a new stake in Biohaven in the fourth quarter valued at about $56,000. Amalgamated Bank increased its holdings 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 in the last quarter. US Bancorp DE raised its position in shares of Biohaven by 36.7% in the 4th quarter. US Bancorp DE now owns 2,971 shares of the company's stock valued at $111,000 after purchasing an additional 798 shares during the last quarter. KBC Group NV grew its position in Biohaven by 50.1% during the 4th 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 last quarter. Finally, Diversified Trust Co increased 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. Hedge funds and other institutional investors own 88.78% of the company's stock.
Insider Buying and Selling
In other Biohaven news, Director John W. Childs acquired 32,700 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $30.47 per share, with a total value of $996,369.00. Following the purchase, the director now owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. The trade was a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 16.00% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of brokerages recently issued reports on BHVN. Morgan Stanley reduced their target price on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. HC Wainwright reiterated a "buy" rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Biohaven in a research note on Tuesday, February 11th. They set a "buy" rating and a $65.00 price objective for the company. Royal Bank of Canada reissued an "outperform" rating and set a $61.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biohaven in a report on Tuesday, December 17th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Biohaven currently has an average rating of "Buy" and an average price target of $63.15.
Check Out Our Latest Research Report on Biohaven
Biohaven Trading Down 4.0 %
BHVN traded down $1.24 during midday trading on Tuesday, hitting $29.80. 894,665 shares of the company traded hands, compared to its average volume of 1,055,843. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -3.19 and a beta of 1.27. The business has a 50 day simple moving average of $35.76 and a two-hundred day simple moving average of $41.61. Biohaven Ltd. has a 52-week low of $26.80 and a 52-week high of $59.53.
Biohaven (NYSE:BHVN - Get Free Report) last posted 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). Equities research analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current year.
Biohaven Company Profile
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Free Report)
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.
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