State of New Jersey Common Pension Fund D Sells 4,305 Shares of Biohaven Ltd. (NYSE:BHVN)

State of New Jersey Common Pension Fund D lowered its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,070 shares of the company’s stock after selling 4,305 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Biohaven were worth $1,946,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BHVN. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Biohaven during the 4th quarter valued at approximately $230,000. Private Advisor Group LLC purchased a new position in Biohaven in the fourth quarter valued at approximately $231,000. Capstone Investment Advisors LLC bought a new position in Biohaven during the fourth quarter valued at $235,000. DNB Asset Management AS purchased a new stake in Biohaven in the second quarter worth $285,000. Finally, Cypress Wealth Services LLC bought a new stake in shares of Biohaven in the first quarter valued at $326,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Insider Buying and Selling at Biohaven

In other Biohaven news, Director John W. Childs acquired 28,400 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the acquisition, the director now owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 16.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BHVN shares. HC Wainwright reiterated a “buy” rating and set a $59.00 price target on shares of Biohaven in a research note on Thursday, May 30th. Sanford C. Bernstein assumed coverage on shares of Biohaven in a research report on Wednesday, September 4th. They set an “outperform” rating and a $55.00 target price for the company. UBS Group lowered their price target on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research note on Monday, August 19th. Finally, William Blair upgraded shares of 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $54.70.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $40.39 on Friday. The firm has a fifty day moving average price of $38.35 and a two-hundred day moving average price of $40.95. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -5.91 and a beta of 1.30. Biohaven Ltd. has a one year low of $16.45 and a one year high of $62.21.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data 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). Equities research analysts expect that Biohaven Ltd. will post -8.92 EPS for the current fiscal year.

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.