Arizona State Retirement System Purchases 730 Shares of Biohaven Ltd. (NYSE:BHVN)

Arizona State Retirement System increased its position in shares of Biohaven Ltd. (NYSE:BHVN) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,575 shares of the company’s stock after purchasing an additional 730 shares during the period. Arizona State Retirement System’s holdings in Biohaven were worth $714,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its stake in Biohaven by 3.9% during the second quarter. Victory Capital Management Inc. now owns 217,655 shares of the company’s stock worth $7,555,000 after buying an additional 8,217 shares in the last quarter. VELA Investment Management LLC increased its stake in Biohaven by 10.2% in the second quarter. VELA Investment Management LLC now owns 13,958 shares of the company’s stock valued at $484,000 after acquiring an additional 1,294 shares during the period. SeaBridge Investment Advisors LLC raised its position in Biohaven by 32.0% in the second quarter. SeaBridge Investment Advisors LLC now owns 36,226 shares of the company’s stock worth $1,257,000 after purchasing an additional 8,775 shares in the last quarter. Commonwealth Equity Services LLC raised its position in Biohaven by 9.4% in the second quarter. Commonwealth Equity Services LLC now owns 13,338 shares of the company’s stock worth $463,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Biohaven by 234.5% during the second quarter. Principal Financial Group Inc. now owns 79,048 shares of the company’s stock worth $2,744,000 after purchasing an additional 55,415 shares during the period. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John W. Childs bought 28,400 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was bought at an average price 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 in the company, valued at approximately $83,458,561.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 16.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BHVN. Morgan Stanley assumed coverage on Biohaven in a research note on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Monday, August 19th. HC Wainwright restated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Biohaven in a report on Wednesday, September 4th. Finally, UBS Group cut their price target 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. Ten equities research 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.com, the stock presently has an average rating of “Buy” and an average price target of $54.44.

Biohaven Stock Up 6.5 %

Shares of NYSE:BHVN opened at $38.08 on Monday. Biohaven Ltd. has a 12 month low of $16.45 and a 12 month high of $62.21. The firm has a market cap of $3.60 billion, a P/E ratio of -5.58 and a beta of 1.30. The company’s 50-day moving average price is $38.03 and its two-hundred day moving average price is $41.34.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). As a group, equities analysts predict that Biohaven Ltd. will post -8.92 earnings per share for the current fiscal year.

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.