Biohaven Ltd. (NYSE:BHVN) Stake Boosted by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its stake in Biohaven Ltd. (NYSE:BHVN) by 15.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,893 shares of the company’s stock after purchasing an additional 2,728 shares during the period. Exchange Traded Concepts LLC’s holdings in Biohaven were worth $994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC bought a new stake in Biohaven in the second quarter valued at $61,000. Elkhorn Partners Limited Partnership bought a new stake in Biohaven in the 2nd quarter valued at about $125,000. Cypress Wealth Services LLC acquired a new position in Biohaven during the 3rd quarter valued at about $224,000. Diversified Trust Co bought a new position in Biohaven in the 3rd quarter worth about $239,000. Finally, Quarry LP increased its stake in shares of Biohaven by 614.3% in the second quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after purchasing an additional 4,300 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Stock Performance

Shares of NYSE:BHVN opened at $51.45 on Thursday. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of -7.53 and a beta of 1.31. Biohaven Ltd. has a 1-year low of $25.97 and a 1-year high of $62.21. The company has a 50 day moving average price of $42.90 and a 200 day moving average price of $40.09.

Biohaven (NYSE:BHVN) last released its quarterly earnings data 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). On average, sell-side analysts expect that Biohaven Ltd. will post -8.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BHVN shares. Royal Bank of Canada increased their price objective on Biohaven from $59.00 to $68.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Piper Sandler raised their price target on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. Jefferies Financial Group initiated coverage on shares of Biohaven in a research report on Monday, September 16th. They issued a “buy” rating and a $57.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Friday, October 4th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $61.92.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 21,052 shares of Biohaven stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the purchase, the director now owns 21,052 shares of the company’s stock, valued at $999,970. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John W. Childs bought 21,052 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the purchase, the director now directly owns 21,052 shares in the company, valued at $999,970. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average price of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now directly owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

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.