Perceptive Advisors LLC Sells 239,815 Shares of Biohaven Ltd. (NYSE:BHVN)

Perceptive Advisors LLC lessened its holdings in Biohaven Ltd. (NYSE:BHVN) by 13.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,485,232 shares of the company’s stock after selling 239,815 shares during the quarter. Biohaven makes up 1.2% of Perceptive Advisors LLC’s holdings, making the stock its 25th largest holding. Perceptive Advisors LLC’s holdings in Biohaven were worth $51,552,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BHVN. Redwood Wealth Management Group LLC bought a new stake in shares of Biohaven during the second quarter valued at approximately $61,000. Elkhorn Partners Limited Partnership purchased a new position in Biohaven during the 2nd quarter worth $125,000. Quarry LP raised its position in Biohaven by 614.3% during the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock valued at $174,000 after purchasing an additional 4,300 shares in the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Biohaven in the 4th quarter worth $230,000. Finally, Capstone Investment Advisors LLC bought a new position in shares of Biohaven during the 4th quarter worth $235,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on BHVN shares. Royal Bank of Canada lifted their price objective on Biohaven from $59.00 to $68.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Tuesday, September 24th. Robert W. Baird increased their price objective on shares of Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Leerink Partners boosted their price objective on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group assumed coverage on Biohaven in a research report on Monday, September 16th. They set a “buy” rating and a $57.00 target price on the stock. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Biohaven currently has an average rating of “Buy” and an average price target of $60.92.

Insiders Place Their Bets

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 $71,590,937.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Biohaven news, Director Gregory Bailey purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Childs purchased 28,400 shares of Biohaven stock in a transaction on Thursday, July 18th. The shares were acquired at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the transaction, the director now directly owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The disclosure for this purchase can be found here. 16.00% of the stock is owned by insiders.

Biohaven Price Performance

Shares of BHVN stock opened at $51.00 on Monday. The stock’s fifty day moving average price is $39.53 and its 200 day moving average price is $40.49. Biohaven Ltd. has a 1-year low of $22.12 and a 1-year high of $62.21. The company has a market cap of $4.50 billion, a price-to-earnings ratio of -7.47 and a beta of 1.30.

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

About Biohaven

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.