Raymond James & Associates bought a new position in shares of Biohaven Ltd. (NYSE:BHVN – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 13,480 shares of the company’s stock, valued at approximately $322,000.
Several other institutional investors also recently made changes to their positions in the stock. US Bancorp DE raised its stake in shares of Biohaven by 19.1% during the 1st quarter. US Bancorp DE now owns 586 shares of the company’s stock worth $70,000 after buying an additional 94 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Biohaven during the 1st quarter worth $200,000. Zebra Capital Management LLC acquired a new position in shares of Biohaven during the 1st quarter worth $236,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Biohaven during the 1st quarter worth $269,000. Finally, Nomura Holdings Inc. raised its stake in shares of Biohaven by 134.0% during the 2nd quarter. Nomura Holdings Inc. now owns 2,340 shares of the company’s stock worth $332,000 after buying an additional 1,340 shares during the last quarter. 89.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. cut their price target on Biohaven from $27.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, August 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $26.20.
Insider Activity at Biohaven
In other news, Director John W. Childs bought 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was purchased at an average price of $18.44 per share, with a total value of $922,000.00. Following the purchase, the director now owns 1,975,118 shares of the company’s stock, valued at approximately $36,421,175.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Vlad Coric bought 113,637 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was acquired at an average price of $22.00 per share, for a total transaction of $2,500,014.00. Following the acquisition, the chief executive officer now owns 1,657,031 shares of the company’s stock, valued at $36,454,682. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John W. Childs bought 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The shares were purchased at an average price of $18.44 per share, with a total value of $922,000.00. Following the acquisition, the director now directly owns 1,975,118 shares in the company, valued at approximately $36,421,175.92. The disclosure for this purchase can be found here. In the last quarter, insiders bought 204,181 shares of company stock valued at $4,324,138. 12.40% of the stock is owned by insiders.
Biohaven Trading Up 3.5 %
Shares of BHVN stock opened at $28.60 on Friday. The firm has a 50-day moving average price of $24.01 and a 200 day moving average price of $21.31. Biohaven Ltd. has a twelve month low of $12.35 and a twelve month high of $31.21. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of -3.85 and a beta of 0.97.
Biohaven Ltd., a clinical-stage biopharmaceutical company, focuses on discovering, developing, and commercializing 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; BHV-7010, a Kv7 channel modulator for the treatment of different neurological diseases; 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 oral myeloperoxidase inhibitor, which is in Phase 3 clinical trial for the treatment of neurodegenerative diseases.
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