DNB Asset Management AS Takes Position in Biohaven Ltd. (NYSE:BHVN)

DNB Asset Management AS acquired a new stake in shares of Biohaven Ltd. (NYSE:BHVN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,220 shares of the company’s stock, valued at approximately $285,000.

A number of other hedge funds also recently bought and sold shares of the stock. Thompson Davis & CO. Inc. bought a new stake in shares of Biohaven in the 4th quarter valued at about $214,000. Prevail Innovative Wealth Advisors LLC purchased a new position in Biohaven in the fourth quarter worth $230,000. Private Advisor Group LLC acquired a new position in shares of Biohaven during the fourth quarter worth $231,000. Capstone Investment Advisors LLC purchased a new stake in shares of Biohaven during the 4th quarter valued at $235,000. Finally, Cypress Wealth Services LLC acquired a new stake in shares of Biohaven in the 1st quarter worth $326,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Insider Transactions at Biohaven

In other news, Director John W. Childs acquired 28,400 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the acquisition, the director now owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Biohaven news, Director John W. Childs bought 28,400 shares of Biohaven stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $35.67 per share, for a total transaction of $1,013,028.00. Following the completion of the transaction, the director now directly owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Childs purchased 28,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $35.58 per share, for a total transaction of $996,240.00. Following the completion of the purchase, the director now owns 2,311,341 shares of the company’s stock, valued at approximately $82,237,512.78. The disclosure for this purchase can be found here. Insiders purchased 84,900 shares of company stock valued at $3,011,613 over the last 90 days. Corporate insiders own 16.00% of the company’s stock.

Biohaven Trading Down 0.6 %

BHVN traded down $0.23 during trading on Wednesday, hitting $35.49. The company’s stock had a trading volume of 26,652 shares, compared to its average volume of 1,219,263. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of -5.23 and a beta of 1.32. The business’s fifty day simple moving average is $35.52 and its 200 day simple moving average is $42.98. Biohaven Ltd. has a twelve month low of $16.45 and a twelve month high of $62.21.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Thursday, May 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.70). As a group, equities research analysts forecast that Biohaven Ltd. will post -7.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BHVN has been the topic of several recent analyst reports. UBS Group upped their price objective on shares of Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $59.00 price target on shares of Biohaven in a report on Thursday, May 30th. Royal Bank of Canada reissued an “outperform” rating and set a $59.00 price objective on shares of Biohaven in a report on Tuesday, June 18th. Morgan Stanley started coverage on Biohaven in a research report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Thursday, May 30th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Biohaven presently has an average rating of “Buy” and an average price target of $55.13.

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.