Swiss National Bank Sells 6,600 Shares of Biohaven Ltd. (NYSE:BHVN)

Swiss National Bank cut its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 4.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,000 shares of the company’s stock after selling 6,600 shares during the quarter. Swiss National Bank owned about 0.15% of Biohaven worth $6,896,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in Biohaven during the 3rd quarter valued at $50,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Biohaven during the second quarter valued at $61,000. Values First Advisors Inc. bought a new stake in Biohaven in the 3rd quarter worth about $78,000. US Bancorp DE increased its holdings in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after buying an additional 790 shares in the last quarter. Finally, KBC Group NV lifted its stake in Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Stock Up 4.6 %

Shares of Biohaven stock opened at $47.31 on Wednesday. The stock’s 50-day simple moving average is $49.23 and its 200-day simple moving average is $41.13. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $62.21. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of -4.94 and a beta of 1.31.

Biohaven (NYSE:BHVN) last issued its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). On average, equities analysts expect that Biohaven Ltd. will post -8.85 earnings per share for the current year.

Insider Buying and Selling at Biohaven

In other news, Director John W. Childs bought 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was purchased at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the transaction, the director now owns 21,052 shares of the company’s stock, valued at $999,970. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The trade was a 0.31 % increase in their position. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Piper Sandler raised their target price on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Robert W. Baird upped their price target on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Jefferies Financial Group started coverage on shares of Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 price objective on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $59.00 target price on shares of Biohaven in a report on Tuesday. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $62.75.

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.