Peregrine Capital Management LLC Buys New Shares in Biohaven Ltd. (NYSE:BHVN)

Peregrine Capital Management LLC bought 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 fund bought 148,879 shares of the company's stock, valued at approximately $5,561,000. Peregrine Capital Management LLC owned 0.15% of Biohaven as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Biohaven during the third quarter worth $50,000. Spire Wealth Management acquired a new position in shares of Biohaven in the fourth quarter worth about $56,000. Values First Advisors Inc. acquired a new position in shares of Biohaven in the third quarter worth about $78,000. US Bancorp DE boosted its holdings in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company's stock worth $109,000 after buying an additional 790 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company's stock worth $112,000 after buying an additional 443 shares during the period. 88.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director John W. Childs purchased 29,000 shares of the stock in a transaction on Monday, December 30th. The shares were bought at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the completion of the acquisition, the director now directly owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This trade represents a 1.24 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 16.00% of the company's stock.

Biohaven Price Performance

NYSE:BHVN traded down $2.87 during trading hours on Friday, reaching $36.90. The company's stock had a trading volume of 836,187 shares, compared to its average volume of 889,996. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -3.95 and a beta of 1.28. Biohaven Ltd. has a one year low of $26.80 and a one year high of $62.21. The business's 50-day moving average is $38.38 and its 200-day moving average is $42.69.

Analysts Set New Price Targets

Several analysts have issued reports on BHVN shares. Royal Bank of Canada reissued an "outperform" rating and set a $61.00 target price (up from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. TD Cowen raised their price objective on Biohaven from $55.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft began coverage on Biohaven in a research report on Tuesday, February 11th. They set a "buy" rating and a $65.00 price objective for the company. Finally, HC Wainwright restated a "buy" rating and set a $59.00 price objective on shares of Biohaven in a research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $63.15.

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.