California Public Employees Retirement System decreased its position in Biohaven Ltd. (NYSE:BHVN – Get Rating) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 116,708 shares of the company’s stock after selling 750 shares during the period. California Public Employees Retirement System owned about 0.17% of Biohaven worth $17,006,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in BHVN. EverSource Wealth Advisors LLC raised its holdings in shares of Biohaven by 311.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 280 shares of the company’s stock worth $41,000 after buying an additional 212 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Biohaven in the 2nd quarter worth approximately $59,000. Exchange Traded Concepts LLC raised its holdings in shares of Biohaven by 151.6% in the 2nd quarter. Exchange Traded Concepts LLC now owns 536 shares of the company’s stock worth $78,000 after buying an additional 323 shares in the last quarter. US Bancorp DE raised its holdings in shares of Biohaven by 19.1% in the 1st quarter. US Bancorp DE now owns 586 shares of the company’s stock worth $70,000 after buying an additional 94 shares in the last quarter. Finally, Washington Trust Advisors Inc. raised its holdings in shares of Biohaven by 24.6% in the 1st quarter. Washington Trust Advisors Inc. now owns 810 shares of the company’s stock worth $96,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 78.19% of the company’s stock.
Biohaven Stock Performance
Shares of BHVN opened at $14.10 on Friday. The firm has a market capitalization of $961.06 million, a price-to-earnings ratio of -1.01 and a beta of 1.01. The business’s fifty day moving average price is $57.73 and its two-hundred day moving average price is $113.42. Biohaven Ltd. has a 52 week low of $5.54 and a 52 week high of $17.39.
Wall Street Analysts Forecast Growth
BHVN has been the subject of a number of recent research reports. Piper Sandler dropped their target price on Biohaven from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, October 26th. Cowen set a $25.00 price target on Biohaven in a research report on Monday, November 7th. Wedbush lowered Biohaven from an “outperform” rating to a “neutral” rating and set a $148.50 price target on the stock. in a research report on Monday, August 8th. Cantor Fitzgerald upgraded Biohaven from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $158.00 to $27.00 in a research report on Wednesday, October 26th. Finally, Cowen decreased their price target on Biohaven to $25.00 in a research report on Monday, November 7th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $101.65.
Insider Buying and Selling at Biohaven
In other news, CEO Vlad Coric acquired 853,380 shares of the firm’s stock in a transaction on Tuesday, October 25th. The shares were purchased at an average cost of $10.50 per share, for a total transaction of $8,960,490.00. Following the transaction, the chief executive officer now owns 1,475,664 shares of the company’s stock, valued at $15,494,472. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Vlad Coric purchased 853,380 shares of the business’s stock in a transaction dated Tuesday, October 25th. The shares were bought at an average price of $10.50 per share, with a total value of $8,960,490.00. Following the purchase, the chief executive officer now directly owns 1,475,664 shares in the company, valued at approximately $15,494,472. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew Buten purchased 142,857 shares of the business’s stock in a transaction dated Tuesday, October 25th. The stock was bought at an average cost of $10.50 per share, for a total transaction of $1,499,998.50. Following the purchase, the chief financial officer now owns 166,653 shares in the company, valued at $1,749,856.50. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 1,263,967 shares of company stock worth $13,596,014. Insiders own 12.40% of the company’s stock.
Biohaven Company Profile
Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering and developing therapies for patients with debilitating neurological and neuropsychiatric diseases in the United States. The company's pipeline products include BHV-7000, a potassium channel activator for the treatment of focal epilepsy; Troriluzole, a tripeptide prodrug that is in Phase 3 clinical trial for the treatment of neurological and neuropsychiatric illnesses; BHV-5500, a low-trapping glutamate N-methyl-D-aspartate receptor antagonist for neuropathic pain; and Verdiperstat, an irreversible myeloperoxidase enzyme inhibitor for the treatment of neurodegenerative diseases.
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