ARS Investment Partners LLC Sells 85,577 Shares of Biohaven Ltd. $BHVN

ARS Investment Partners LLC decreased its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,102,549 shares of the company’s stock after selling 85,577 shares during the quarter. Biohaven comprises about 1.1% of ARS Investment Partners LLC’s portfolio, making the stock its 29th largest holding. ARS Investment Partners LLC owned approximately 1.04% of Biohaven worth $16,549,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of BHVN. Norges Bank purchased a new position in Biohaven during the 2nd quarter valued at $12,735,000. Millennium Management LLC boosted its position in Biohaven by 1,172.9% in the 1st quarter. Millennium Management LLC now owns 901,258 shares of the company’s stock worth $21,666,000 after purchasing an additional 830,457 shares in the last quarter. Bellevue Group AG raised its holdings in Biohaven by 37.3% in the 2nd quarter. Bellevue Group AG now owns 2,802,853 shares of the company’s stock worth $39,548,000 after purchasing an additional 762,000 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Biohaven in the 2nd quarter worth $9,289,000. Finally, BNP Paribas Financial Markets raised its position in shares of Biohaven by 6,907.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 628,622 shares of the company’s stock worth $8,870,000 after purchasing an additional 619,651 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on BHVN shares. UBS Group lowered shares of Biohaven from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $11.00 in a research note on Wednesday, November 26th. Robert W. Baird set a $42.00 price objective on shares of Biohaven in a report on Wednesday, November 5th. Royal Bank Of Canada decreased their price target on Biohaven from $19.00 to $9.00 and set a “sector perform” rating for the company in a report on Thursday, November 6th. Sanford C. Bernstein reissued a “market perform” rating and set a $9.00 price objective (down from $34.00) on shares of Biohaven in a research report on Thursday, November 6th. Finally, Cowen reissued a “buy” rating on shares of Biohaven in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.93.

Insider Activity at Biohaven

In other Biohaven news, Director John W. Childs purchased 3,333,333 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were purchased at an average cost of $7.50 per share, for a total transaction of $24,999,997.50. Following the completion of the transaction, the director owned 5,653,904 shares in the company, valued at $42,404,280. The trade was a 143.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO George C. Clark acquired 17,000 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were bought at an average price of $8.52 per share, with a total value of $144,840.00. Following the transaction, the chief accounting officer directly owned 20,000 shares in the company, valued at approximately $170,400. The trade was a 566.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 4,416,999 shares of company stock valued at $33,144,833 over the last quarter. Corporate insiders own 16.00% of the company’s stock.

Biohaven Trading Down 13.8%

NYSE:BHVN opened at $9.06 on Thursday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.86 and a current ratio of 2.86. The business’s 50-day simple moving average is $11.60 and its 200 day simple moving average is $13.68. The stock has a market cap of $958.56 million, a price-to-earnings ratio of -1.19 and a beta of 1.13. Biohaven Ltd. has a one year low of $7.48 and a one year high of $44.28.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, November 10th. The company reported ($1.64) EPS for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.27. As a group, sell-side analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

About Biohaven

Biohaven Ltd. (NYSE BHVN) is a clinical-stage biopharmaceutical company dedicated to developing and commercializing therapies for neurological and neurovascular diseases. Founded in 2013 as a spin-out from Yale University, Biohaven focuses on addressing high-unmet medical needs through innovative small-molecule and peptide-based platforms. The company is headquartered in New Haven, Connecticut, and maintains research activities across the United States, with collaborative ties in Europe and Asia via strategic partnerships.

The company’s most advanced program centers on calcitonin gene-related peptide (CGRP) receptor antagonists for the acute and preventive treatment of migraine.