Victory Capital Management Inc. Acquires 8,217 Shares of Biohaven Ltd. (NYSE:BHVN)

Victory Capital Management Inc. grew its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 3.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 217,655 shares of the company’s stock after acquiring an additional 8,217 shares during the quarter. Victory Capital Management Inc. owned about 0.25% of Biohaven worth $7,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Private Advisor Group LLC purchased a new position in Biohaven in the fourth quarter worth $231,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Biohaven by 20.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,904 shares of the company’s stock valued at $22,209,000 after buying an additional 86,890 shares in the last quarter. Principal Financial Group Inc. lifted its position in Biohaven by 47.6% in the 4th quarter. Principal Financial Group Inc. now owns 27,935 shares of the company’s stock worth $1,196,000 after buying an additional 9,005 shares during the last quarter. TD Asset Management Inc grew its position in Biohaven by 31.0% during the fourth quarter. TD Asset Management Inc now owns 276,172 shares of the company’s stock valued at $11,820,000 after acquiring an additional 65,426 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Biohaven by 7.9% during the fourth quarter. Stifel Financial Corp now owns 6,225,811 shares of the company’s stock worth $266,465,000 after acquiring an additional 456,062 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BHVN shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Monday, August 19th. 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. Morgan Stanley began coverage on Biohaven in a research note on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 target price for the company. William Blair upgraded Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. Finally, Sanford C. Bernstein initiated coverage on Biohaven in a research note on Wednesday, September 4th. They set an “outperform” rating and a $55.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $54.44.

Biohaven Trading Up 6.5 %

Shares of NYSE BHVN opened at $38.08 on Monday. The firm has a fifty day simple moving average of $38.03 and a two-hundred day simple moving average of $41.34. Biohaven Ltd. has a 12 month low of $16.45 and a 12 month high of $62.21. The firm has a market capitalization of $3.60 billion, a PE ratio of -5.58 and a beta of 1.30.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). On average, sell-side analysts predict that Biohaven Ltd. will post -8.92 earnings per share for the current year.

Insider Transactions at Biohaven

In other news, Director John W. Childs purchased 28,400 shares of the company’s 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 completion of the transaction, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.00% of the company’s stock.

Biohaven Company 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.