Biohaven Ltd. (NYSE:BHVN) Shares Sold by Driehaus Capital Management LLC

Driehaus Capital Management LLC cut its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 12.8% in the second quarter, HoldingsChannel reports. The firm owned 244,421 shares of the company’s stock after selling 35,881 shares during the period. Driehaus Capital Management LLC’s holdings in Biohaven were worth $8,484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Perceptive Advisors LLC lifted its position in Biohaven by 129.4% during the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock valued at $73,832,000 after purchasing an additional 973,227 shares during the period. Vanguard Group Inc. increased its holdings in Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after buying an additional 4,650,702 shares in the last quarter. CWM LLC increased its holdings in Biohaven by 1,893.4% in the second quarter. CWM LLC now owns 14,552 shares of the company’s stock valued at $505,000 after buying an additional 13,822 shares in the last quarter. Oak Ridge Investments LLC increased its holdings in Biohaven by 197.6% in the second quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock valued at $764,000 after buying an additional 14,607 shares in the last quarter. Finally, Bellevue Group AG increased its holdings in Biohaven by 7.0% in the first quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock valued at $62,894,000 after buying an additional 75,000 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BHVN has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Biohaven in a report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Tuesday, September 24th. HC Wainwright reissued a “buy” rating and set a $59.00 target price on shares of Biohaven in a research note on Tuesday, September 24th. Bank of America boosted their target price on shares of Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group initiated coverage on shares of Biohaven in a research note on Monday, September 16th. They set a “buy” rating and a $57.00 target price for the company. Thirteen research 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 stock has an average rating of “Buy” and an average price target of $60.92.

Biohaven Trading Down 0.4 %

BHVN opened at $51.00 on Monday. The firm has a market capitalization of $4.50 billion, a PE ratio of -7.47 and a beta of 1.30. Biohaven Ltd. has a twelve month low of $22.12 and a twelve month high of $62.21. The firm’s 50-day moving average price is $39.53 and its 200 day moving average price is $40.49.

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

Insider Transactions at Biohaven

In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John W. Childs acquired 28,400 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the transaction, 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 SEC, which can be accessed through the SEC website. Also, Director Gregory Bailey bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

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.