D.A. Davidson & CO. Makes New $1.20 Million Investment in Biohaven Ltd. (NYSE:BHVN)

D.A. Davidson & CO. acquired a new stake in shares of Biohaven Ltd. (NYSE:BHVN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 23,916 shares of the company’s stock, valued at approximately $1,195,000.

Several other institutional investors have also recently made changes to their positions in the company. Algert Global LLC boosted its holdings in Biohaven by 5.9% during the 2nd quarter. Algert Global LLC now owns 7,402 shares of the company’s stock valued at $257,000 after acquiring an additional 412 shares during the period. KBC Group NV boosted its stake in shares of Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after purchasing an additional 443 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Biohaven by 6.1% in the second quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock worth $286,000 after purchasing an additional 480 shares during the last quarter. Canton Hathaway LLC increased its stake in Biohaven by 2.3% in the 2nd quarter. Canton Hathaway LLC now owns 21,850 shares of the company’s stock worth $758,000 after buying an additional 500 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Biohaven by 19.1% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock valued at $156,000 after buying an additional 500 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Insider Activity at Biohaven

In other 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 transaction, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The trade was a 0.31 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John W. Childs purchased 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average cost of $47.50 per share, with a total value of $999,970.00. Following the transaction, the director now owns 21,052 shares in the company, valued at $999,970. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

BHVN has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research note on Wednesday, October 23rd. Piper Sandler raised their price objective on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Robert W. Baird upped their target price on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Royal Bank of Canada cut their price target on Biohaven from $66.00 to $58.00 and set an “outperform” rating on the stock in a research note on Monday, November 25th. Finally, Bank of America lifted their price objective on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $62.75.

Biohaven Trading Down 0.8 %

Shares of BHVN stock opened at $46.01 on Monday. Biohaven Ltd. has a 12-month low of $26.80 and a 12-month high of $62.21. The business’s fifty day simple moving average is $49.77 and its 200-day simple moving average is $41.40. The company has a market cap of $4.65 billion, a PE ratio of -4.92 and a beta of 1.31.

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

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.