New York State Common Retirement Fund Buys 9,000 Shares of Biohaven Ltd. (NYSE:BHVN)

New York State Common Retirement Fund increased its stake in Biohaven Ltd. (NYSE:BHVN) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,276 shares of the company’s stock after buying an additional 9,000 shares during the quarter. New York State Common Retirement Fund’s holdings in Biohaven were worth $1,767,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Simon Quick Advisors LLC lifted its holdings in shares of Biohaven by 36.3% in the 4th quarter. Simon Quick Advisors LLC now owns 74,968 shares of the company’s stock worth $3,209,000 after acquiring an additional 19,968 shares during the last quarter. Citigroup Inc. boosted its position in shares of Biohaven by 97.9% during the third quarter. Citigroup Inc. now owns 146,907 shares of the company’s stock valued at $3,821,000 after buying an additional 72,673 shares during the period. Legato Capital Management LLC bought a new position in shares of Biohaven during the fourth quarter valued at approximately $469,000. Monashee Investment Management LLC raised its holdings in shares of Biohaven by 80.0% in the third quarter. Monashee Investment Management LLC now owns 90,000 shares of the company’s stock worth $2,341,000 after buying an additional 40,000 shares during the period. Finally, GSA Capital Partners LLP bought a new stake in shares of Biohaven during the 3rd quarter worth approximately $923,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Biohaven Stock Performance

NYSE BHVN opened at $40.75 on Thursday. The company’s 50-day simple moving average is $49.77 and its two-hundred day simple moving average is $42.71. Biohaven Ltd. has a one year low of $13.46 and a one year high of $62.21. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of -7.20 and a beta of 1.26.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing analysts’ consensus estimates of ($1.41) by ($0.40). Equities analysts expect that Biohaven Ltd. will post -5.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Gregory Bailey acquired 25,503 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were purchased at an average price of $39.18 per share, with a total value of $999,207.54. Following the transaction, the director now directly owns 1,600,071 shares in the company, valued at $62,690,781.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Biohaven news, CEO Vlad Coric purchased 121,951 shares of the stock in a transaction on Monday, April 22nd. The stock was acquired at an average price of $41.00 per share, with a total value of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now owns 1,788,417 shares in the company, valued at $73,325,097. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory Bailey acquired 25,503 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were bought at an average price of $39.18 per share, for a total transaction of $999,207.54. Following the acquisition, the director now owns 1,600,071 shares of the company’s stock, valued at $62,690,781.78. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 196,234 shares of company stock worth $7,999,179. 16.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on BHVN. UBS Group upped their price objective on Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, April 23rd. TD Cowen raised their price target on shares of Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Biohaven in a report on Tuesday, April 9th. HC Wainwright upped their target price on shares of Biohaven from $50.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research note on Thursday, April 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $52.13.

About Biohaven

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.