Erste Asset Management GmbH Takes Position in Biohaven Ltd. (NYSE:BHVN)

Erste Asset Management GmbH purchased a new position in shares of Biohaven Ltd. (NYSE:BHVN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 51,300 shares of the company’s stock, valued at approximately $2,616,000. Erste Asset Management GmbH owned 0.05% of Biohaven at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Farallon Capital Management LLC boosted its stake in shares of Biohaven by 181.4% during the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock worth $78,028,000 after buying an additional 1,449,000 shares during the period. Armistice Capital LLC lifted its position in Biohaven by 74.8% during the 2nd quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock worth $48,489,000 after acquiring an additional 597,705 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Biohaven by 563.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company’s stock valued at $25,416,000 after purchasing an additional 431,954 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Biohaven by 166.8% in the second quarter. American Century Companies Inc. now owns 511,237 shares of the company’s stock valued at $17,745,000 after purchasing an additional 319,634 shares during the period. Finally, ARS Investment Partners LLC increased its holdings in shares of Biohaven by 47.8% in the second quarter. ARS Investment Partners LLC now owns 940,512 shares of the company’s stock valued at $32,645,000 after purchasing an additional 304,141 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs purchased 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The stock was bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares of the company’s stock, valued at $999,970. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were bought at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This trade represents a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Biohaven Trading Down 2.8 %

Shares of NYSE BHVN opened at $44.74 on Tuesday. The company’s 50-day moving average price is $49.77 and its 200 day moving average price is $41.43. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $62.21. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of -4.92 and a beta of 1.31.

Biohaven (NYSE:BHVN) last posted its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). As a group, research analysts expect that Biohaven Ltd. will post -8.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BHVN. Jefferies Financial Group started coverage on shares of Biohaven in a research report on Monday, September 16th. They issued a “buy” rating and a $57.00 price objective on the stock. Leerink Partners boosted their price target on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Sanford C. Bernstein increased their price target on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Bank of America lifted their price objective on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Robert W. Baird increased their target price on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $62.75.

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.