Goldman Sachs Group Inc. Buys 71,850 Shares of Biohaven Ltd. (NYSE:BHVN)

Goldman Sachs Group Inc. grew its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 945,715 shares of the company’s stock after buying an additional 71,850 shares during the period. Goldman Sachs Group Inc. owned 1.18% of Biohaven worth $40,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Thompson Davis & CO. Inc. bought a new stake in shares of Biohaven during the fourth quarter valued at approximately $214,000. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Biohaven in the fourth quarter valued at $230,000. Private Advisor Group LLC purchased a new position in shares of Biohaven in the fourth quarter valued at $231,000. Capstone Investment Advisors LLC purchased a new position in shares of Biohaven in the fourth quarter valued at $235,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Biohaven in the third quarter valued at $236,000. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Up 2.0 %

NYSE BHVN opened at $33.44 on Friday. The company has a fifty day moving average of $37.69 and a two-hundred day moving average of $43.90. The firm has a market capitalization of $2.95 billion, a price-to-earnings ratio of -4.90 and a beta of 1.21. Biohaven Ltd. has a 52 week low of $16.45 and a 52 week high of $62.21.

Biohaven (NYSE:BHVN) last issued its 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). Equities research analysts anticipate that Biohaven Ltd. will post -7.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BHVN. TD Cowen raised their target price on shares of Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $59.00 target price on shares of Biohaven in a report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research note on Thursday, May 30th. Finally, UBS Group lifted their price objective on shares of Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Biohaven currently has an average rating of “Buy” and a consensus price target of $54.71.

Insider Activity

In related news, Director Gregory Bailey bought 48,780 shares of the stock in a transaction dated Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, with a total value of $1,999,980.00. Following the completion of the purchase, the director now owns 1,574,568 shares of the company’s stock, valued at $64,557,288. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Vlad Coric acquired 121,951 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average cost of $41.00 per share, for a total transaction of $4,999,991.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at approximately $73,325,097. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gregory Bailey acquired 48,780 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average price of $41.00 per share, with a total value of $1,999,980.00. Following the completion of the acquisition, the director now directly owns 1,574,568 shares of the company’s stock, valued at $64,557,288. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 252,734 shares of company stock valued at $9,997,764. 16.00% of the stock is currently owned by company insiders.

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.