Biohaven Ltd. (NYSE:BHVN) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its position in Biohaven Ltd. (NYSE:BHVN) by 62.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,855 shares of the company’s stock after selling 39,287 shares during the period. Federated Hermes Inc.’s holdings in Biohaven were worth $828,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Prevail Innovative Wealth Advisors LLC acquired a new position in Biohaven during the fourth quarter valued at $230,000. Private Advisor Group LLC acquired a new position in shares of Biohaven in the 4th quarter valued at about $231,000. Capstone Investment Advisors LLC purchased a new stake in shares of Biohaven in the fourth quarter worth about $235,000. DNB Asset Management AS acquired a new stake in Biohaven during the second quarter worth about $285,000. Finally, Cypress Wealth Services LLC purchased a new position in Biohaven during the first quarter valued at approximately $326,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on BHVN. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 price objective on shares of Biohaven in a research report on Wednesday, September 4th. Jefferies Financial Group assumed coverage on shares of Biohaven in a research report on Monday, September 16th. They set a “buy” rating and a $57.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research report on Thursday, May 30th. UBS Group dropped their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Finally, Sanford C. Bernstein started coverage on Biohaven in a report on Wednesday, September 4th. They issued an “outperform” rating and a $55.00 price target for the company. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $54.70.

Biohaven Price Performance

NYSE BHVN opened at $40.39 on Monday. The stock’s 50 day simple moving average is $38.35 and its 200-day simple moving average is $40.83. The company has a market cap of $3.57 billion, a PE ratio of -5.91 and a beta of 1.30. Biohaven Ltd. has a 1-year low of $16.45 and a 1-year high of $62.21.

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, equities research analysts anticipate that Biohaven Ltd. will post -8.92 EPS for the current fiscal year.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs acquired 28,400 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the purchase, the director now owns 2,339,741 shares in the company, valued at $83,458,561.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.00% of the company’s stock.

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.