Cadent Capital Advisors LLC Acquires New Position in Biohaven Ltd. (NYSE:BHVN)

Cadent Capital Advisors LLC bought a new position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 35,449 shares of the company's stock, valued at approximately $1,771,000.

Several other large investors also recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new position in shares of Biohaven in the 3rd quarter valued at approximately $50,000. Redwood Wealth Management Group LLC acquired a new stake in Biohaven in the second quarter valued at approximately $61,000. Elkhorn Partners Limited Partnership purchased a new stake in Biohaven in the 2nd quarter worth $125,000. Cypress Wealth Services LLC acquired a new position in shares of Biohaven during the 3rd quarter worth about $224,000. Finally, Diversified Trust Co purchased a new position in shares of Biohaven in the third quarter valued at approximately $239,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Trading Up 2.6 %

NYSE:BHVN traded up $1.32 during mid-day trading on Friday, hitting $52.96. The stock had a trading volume of 842,759 shares, compared to its average volume of 1,178,668. Biohaven Ltd. has a twelve month low of $25.97 and a twelve month high of $62.21. The stock has a 50-day simple moving average of $43.48 and a two-hundred day simple moving average of $40.10. The company has a market capitalization of $4.68 billion, a PE ratio of -7.75 and a beta of 1.31.

Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Sell-side analysts predict that Biohaven Ltd. will post -8.82 EPS for the current fiscal year.

Analyst Ratings Changes

BHVN has been the subject of several analyst reports. William Blair upgraded Biohaven to a "strong-buy" rating in a report on Friday, August 30th. JPMorgan Chase & Co. increased their price objective on shares of Biohaven from $55.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, October 3rd. Jefferies Financial Group initiated coverage on Biohaven in a research note on Monday, September 16th. They set a "buy" rating and a $57.00 price target on the stock. Morgan Stanley began coverage on Biohaven in a research note on Wednesday, July 24th. They issued an "overweight" rating and a $58.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on Biohaven from $59.00 to $68.00 and gave the company an "outperform" rating in a report on Tuesday, September 24th. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $61.92.

Insider Activity

In related news, Director John W. Childs acquired 21,052 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were bought at an average price of $47.50 per share, with a total value of $999,970.00. Following the completion of the acquisition, the director now owns 21,052 shares in the company, valued at $999,970. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Gregory Bailey bought 5,000 shares of the company's stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average price of $44.19 per share, with a total value of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Childs purchased 21,052 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The shares were purchased at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the acquisition, the director now directly owns 21,052 shares of the company's stock, valued at $999,970. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company's stock.

About Biohaven

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.