Sanctuary Advisors LLC Buys New Holdings in Biohaven Ltd. (NYSE:BHVN)

Sanctuary Advisors LLC acquired a new stake in Biohaven Ltd. (NYSE:BHVN) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,393 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Farallon Capital Management LLC lifted its position in shares of Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock worth $78,028,000 after buying an additional 1,449,000 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Biohaven by 745.9% in the third quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock valued at $74,969,000 after acquiring an additional 1,322,922 shares during the last quarter. Armistice Capital LLC boosted its stake in Biohaven by 74.8% in the second quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock valued at $48,489,000 after acquiring an additional 597,705 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Biohaven by 563.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company’s stock worth $25,416,000 after purchasing an additional 431,954 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Biohaven by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock valued at $311,142,000 after purchasing an additional 328,099 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Price Performance

Biohaven stock opened at $36.66 on Friday. The stock’s 50 day moving average price is $45.63 and its 200 day moving average price is $41.90. Biohaven Ltd. has a 1-year low of $26.80 and a 1-year high of $62.21. The company has a market cap of $3.71 billion, a PE ratio of -3.92 and a beta of 1.24.

Biohaven (NYSE:BHVN) last posted its quarterly 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 research analysts anticipate that Biohaven Ltd. will post -8.85 EPS for the current fiscal year.

Insider Activity

In other news, Director John W. Childs purchased 21,052 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was acquired at an average price of $47.50 per share, with a total value of $999,970.00. Following the purchase, the director now directly owns 21,052 shares of the company’s stock, valued at $999,970. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 16.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research report on Tuesday, December 17th. JPMorgan Chase & Co. raised their target price on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Leerink Partners upped their price target on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Piper Sandler raised their price objective on shares of Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Robert W. Baird upped their target price on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Biohaven presently has an average rating of “Buy” and an average target price of $63.00.

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.