38,724 Shares in Biohaven Ltd. (NYSE:BHVN) Bought by Seven Eight Capital LP

Seven Eight Capital LP acquired a new stake in Biohaven Ltd. (NYSE:BHVN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 38,724 shares of the company's stock, valued at approximately $1,344,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new stake in shares of Biohaven during the second quarter valued at approximately $61,000. Elkhorn Partners Limited Partnership acquired a new position in Biohaven during the 2nd quarter worth $125,000. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Biohaven in the fourth quarter worth $230,000. Private Advisor Group LLC acquired a new position in shares of Biohaven during the fourth quarter valued at $231,000. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Biohaven during the fourth quarter valued at $235,000. 88.78% of the stock is owned by institutional investors and hedge funds.

Biohaven Price Performance

Biohaven stock traded down $0.03 during midday trading on Friday, reaching $40.39. The stock had a trading volume of 1,919,494 shares, compared to its average volume of 1,147,900. Biohaven Ltd. has a twelve month low of $16.45 and a twelve month high of $62.21. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of -5.91 and a beta of 1.30. The firm's fifty day simple moving average is $38.31 and its two-hundred day simple moving average is $41.18.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.72) by ($1.92). As a group, sell-side analysts predict that Biohaven Ltd. will post -8.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John W. Childs purchased 28,400 shares of the firm's stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the acquisition, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 16.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BHVN shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $59.00 price objective on shares of Biohaven in a report on Wednesday, September 4th. Jefferies Financial Group began coverage on shares of Biohaven in a research note on Monday. They issued a "buy" rating and a $57.00 price target for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Biohaven in a research note on Monday, August 19th. HC Wainwright restated a "buy" rating and issued a $59.00 target price on shares of Biohaven in a research report on Thursday, May 30th. Finally, William Blair raised Biohaven to a "strong-buy" rating in a research note on Friday, August 30th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $54.70.

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.