Advisors Asset Management Inc. Sells 345 Shares of Biohaven Ltd. (NYSE:BHVN)

Advisors Asset Management Inc. lessened its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,558 shares of the company’s stock after selling 345 shares during the quarter. Advisors Asset Management Inc.’s holdings in Biohaven were worth $827,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Farallon Capital Management LLC lifted its holdings in shares of Biohaven by 181.4% during the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after acquiring an additional 1,449,000 shares during the period. Armistice Capital LLC lifted its holdings in Biohaven by 74.8% during the 2nd quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock valued at $48,489,000 after purchasing an additional 597,705 shares during the last quarter. American Century Companies Inc. boosted its position in Biohaven by 166.8% in the second quarter. American Century Companies Inc. now owns 511,237 shares of the company’s stock valued at $17,745,000 after buying an additional 319,634 shares in the last quarter. ARS Investment Partners LLC grew its stake in Biohaven by 47.8% during the second quarter. ARS Investment Partners LLC now owns 940,512 shares of the company’s stock worth $32,645,000 after buying an additional 304,141 shares during the last quarter. Finally, Logos Global Management LP acquired a new stake in shares of Biohaven during the second quarter worth approximately $8,678,000. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Stock Up 4.6 %

BHVN stock opened at $47.31 on Wednesday. Biohaven Ltd. has a twelve month low of $26.80 and a twelve month high of $62.21. The business’s fifty day moving average is $49.23 and its 200-day moving average is $41.13. The company has a market cap of $4.78 billion, a P/E ratio of -5.06 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Research analysts anticipate that Biohaven Ltd. will post -8.85 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analyst Ratings Changes

BHVN has been the topic of a number of research analyst reports. William Blair upgraded Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. raised their target price on Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Jefferies Financial Group assumed coverage on shares of Biohaven in a research report on Monday, September 16th. They set a “buy” rating and a $57.00 price target on the stock. Sanford C. Bernstein boosted their target price on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, UBS Group reduced their target price on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. 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.com, Biohaven has an average rating of “Buy” and an average target price of $62.75.

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.