Rhumbline Advisers Reduces Holdings in Biohaven Ltd. (NYSE:BHVN)

Rhumbline Advisers decreased its position in Biohaven Ltd. (NYSE:BHVN) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,114 shares of the company’s stock after selling 4,178 shares during the period. Rhumbline Advisers owned 0.12% of Biohaven worth $3,753,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BHVN. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Biohaven in the 4th quarter valued at approximately $230,000. Private Advisor Group LLC purchased a new position in shares of Biohaven during the 4th quarter worth approximately $231,000. Capstone Investment Advisors LLC purchased a new position in shares of Biohaven during the 4th quarter worth approximately $235,000. DNB Asset Management AS purchased a new position in shares of Biohaven during the 2nd quarter worth approximately $285,000. Finally, Cypress Wealth Services LLC purchased a new position in shares of Biohaven during the 1st quarter worth approximately $326,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs acquired 28,400 shares of the stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the transaction, the director now owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.00% of the stock is owned by company insiders.

Biohaven Trading Up 2.5 %

Shares of BHVN opened at $39.02 on Tuesday. Biohaven Ltd. has a twelve month low of $16.45 and a twelve month high of $62.21. The firm’s fifty day simple moving average is $38.03 and its 200-day simple moving average is $41.34. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -5.71 and a beta of 1.30.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data 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). On average, analysts predict that Biohaven Ltd. will post -8.92 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BHVN has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research report on Thursday, May 30th. Sanford C. Bernstein assumed coverage on shares of Biohaven in a research report on Wednesday, September 4th. They set an “outperform” rating and a $55.00 price objective for the company. UBS Group reduced their target price on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a report on Monday, August 19th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Biohaven has a consensus rating of “Buy” and an average price target of $54.70.

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.