Raymond James & Associates cut its holdings in shares of Biohaven Ltd. (NYSE:BHVN – Get Rating) by 67.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,070 shares of the company’s stock after selling 24,559 shares during the period. Raymond James & Associates’ holdings in Biohaven were worth $1,825,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. US Bancorp DE increased its holdings in Biohaven by 19.1% in the 1st quarter. US Bancorp DE now owns 586 shares of the company’s stock worth $70,000 after acquiring an additional 94 shares in the last quarter. Palladiem LLC grew its position in shares of Biohaven by 10.5% in the second quarter. Palladiem LLC now owns 1,895 shares of the company’s stock valued at $276,000 after purchasing an additional 180 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Biohaven by 311.8% during the second quarter. EverSource Wealth Advisors LLC now owns 280 shares of the company’s stock worth $41,000 after purchasing an additional 212 shares in the last quarter. Cetera Advisor Networks LLC raised its position in shares of Biohaven by 8.1% during the 2nd quarter. Cetera Advisor Networks LLC now owns 3,030 shares of the company’s stock worth $442,000 after purchasing an additional 226 shares during the last quarter. Finally, Chartwell Investment Partners LLC lifted its stake in Biohaven by 2.6% in the 2nd quarter. Chartwell Investment Partners LLC now owns 10,741 shares of the company’s stock valued at $1,565,000 after buying an additional 268 shares in the last quarter. 98.01% of the stock is currently owned by institutional investors and hedge funds.
Biohaven Stock Down 2.4 %
BHVN stock opened at $18.73 on Wednesday. Biohaven Ltd. has a 52-week low of $5.54 and a 52-week high of $20.00. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -1.34 and a beta of 1.05. The business has a fifty day moving average of $15.44 and a two-hundred day moving average of $72.20.
Insiders Place Their Bets
In other news, CEO Vlad Coric purchased 41,930 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were bought at an average cost of $14.87 per share, for a total transaction of $623,499.10. Following the completion of the purchase, the chief executive officer now directly owns 1,517,594 shares of the company’s stock, valued at $22,566,622.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.40% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. SVB Securities started coverage on Biohaven in a report on Tuesday. They set an “outperform” rating and a $24.00 target price for the company. JPMorgan Chase & Co. initiated coverage on Biohaven in a research note on Wednesday, January 4th. They issued an “overweight” rating and a $23.00 price objective for the company. SVB Leerink initiated coverage on shares of Biohaven in a research note on Tuesday. They set an “outperform” rating and a $24.00 target price on the stock. Cowen dropped their target price on shares of Biohaven to $25.00 in a report on Monday, November 7th. Finally, Cowen set a $25.00 price target on shares of Biohaven in a research report on Monday, November 7th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.32.
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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