UBS Group AG Increases Stock Position in Biohaven Ltd. (NYSE:BHVN)

UBS Group AG boosted its stake in Biohaven Ltd. (NYSE:BHVNGet Rating) by 628.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,026 shares of the company’s stock after purchasing an additional 236,397 shares during the quarter. UBS Group AG owned about 0.38% of Biohaven worth $39,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Yakira Capital Management Inc. purchased a new position in shares of Biohaven during the second quarter worth approximately $8,094,000. Bank of Montreal Can purchased a new position in shares of Biohaven during the second quarter worth approximately $6,510,000. Knott David M Jr raised its stake in shares of Biohaven by 219.1% during the second quarter. Knott David M Jr now owns 25,051 shares of the company’s stock worth $3,650,000 after acquiring an additional 17,200 shares in the last quarter. Swiss National Bank grew its holdings in shares of Biohaven by 1.4% in the second quarter. Swiss National Bank now owns 141,300 shares of the company’s stock worth $20,589,000 after purchasing an additional 1,900 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of Biohaven by 42.1% in the second quarter. Lazard Asset Management LLC now owns 1,243 shares of the company’s stock worth $181,000 after purchasing an additional 368 shares during the last quarter. 78.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Cantor Fitzgerald upgraded shares of Biohaven from a “neutral” rating to an “overweight” rating and cut their price target for the company from $158.00 to $27.00 in a report on Wednesday, October 26th. Cowen dropped their target price on shares of Biohaven to $25.00 in a report on Monday, November 7th. Wedbush cut shares of Biohaven from an “outperform” rating to a “neutral” rating and set a $148.50 target price on the stock. in a report on Monday, August 8th. Cowen set a $25.00 target price on shares of Biohaven in a report on Monday, November 7th. Finally, Piper Sandler lowered their price target on Biohaven from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, October 26th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $101.65.

Biohaven Stock Performance

Shares of NYSE:BHVN opened at $15.34 on Wednesday. Biohaven Ltd. has a fifty-two week low of $5.54 and a fifty-two week high of $17.39. The business has a 50-day simple moving average of $52.29 and a two-hundred day simple moving average of $112.43. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -1.10 and a beta of 1.01.

Biohaven (NYSE:BHVNGet Rating) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($1.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.53) by $0.78. As a group, research analysts predict that Biohaven Ltd. will post -12.48 earnings per share for the current year.

Insider Buying and Selling at Biohaven

In other news, CEO Vlad Coric purchased 853,380 shares of the business’s stock in a transaction on Tuesday, October 25th. The stock was acquired at an average cost of $10.50 per share, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Matthew Buten acquired 142,857 shares of the business’s stock in a transaction that occurred on 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 approximately $1,749,856.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Vlad Coric acquired 853,380 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the chief executive officer now owns 1,475,664 shares in the company, valued at approximately $15,494,472. The disclosure for this purchase can be found here. Insiders bought a total of 1,263,967 shares of company stock worth $13,596,014 in the last three months. 12.40% of the stock is currently owned by company insiders.

Biohaven Profile

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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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Institutional Ownership by Quarter for Biohaven (NYSE:BHVN)

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