Biohaven Ltd. (NYSE:BHVN) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in Biohaven Ltd. (NYSE:BHVN) by 21.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,500 shares of the company’s stock after selling 5,500 shares during the period. Gabelli Funds LLC’s holdings in Biohaven were worth $712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after buying an additional 4,650,702 shares during the last quarter. Darwin Global Management Ltd. purchased a new stake in Biohaven in the 1st quarter valued at $80,776,000. Point72 Asset Management L.P. raised its position in Biohaven by 142.2% in the 4th quarter. Point72 Asset Management L.P. now owns 2,483,567 shares of the company’s stock valued at $106,297,000 after purchasing an additional 1,458,072 shares during the last quarter. Bellevue Group AG acquired a new stake in Biohaven during the 4th quarter worth $46,010,000. Finally, Perceptive Advisors LLC grew its position in Biohaven by 129.4% during the 4th quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after purchasing an additional 973,227 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. UBS Group reduced their target price on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Robert W. Baird increased their price objective on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday. Leerink Partners boosted their price objective on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday. Piper Sandler raised their price target on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a report on Monday. Finally, Morgan Stanley started coverage on Biohaven in a report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price objective on the stock. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Biohaven presently has a consensus rating of “Buy” and an average price target of $60.92.

Insider Transactions at Biohaven

In other news, Director Gregory Bailey bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Biohaven news, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Childs purchased 28,400 shares of the stock in a transaction on Thursday, July 18th. The stock was acquired at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the acquisition, the director now directly owns 2,339,741 shares in the company, valued at $83,458,561.47. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Biohaven Stock Performance

Biohaven stock opened at $51.18 on Friday. Biohaven Ltd. has a fifty-two week low of $20.80 and a fifty-two week high of $62.21. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of -7.49 and a beta of 1.30. The stock has a fifty day moving average of $39.23 and a two-hundred day moving average of $40.78.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). On average, analysts forecast that Biohaven Ltd. will post -8.92 EPS for the current fiscal year.

Biohaven Profile

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.