Principal Financial Group Inc. Has $3.70 Million Stock Holdings in Biohaven Ltd. (NYSE:BHVN)

Principal Financial Group Inc. cut its stake in Biohaven Ltd. (NYSE:BHVN) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,106 shares of the company’s stock after selling 4,942 shares during the period. Principal Financial Group Inc. owned approximately 0.08% of Biohaven worth $3,703,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BHVN. Vanguard Group Inc. increased its stake in shares of Biohaven by 280.5% in the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after purchasing an additional 4,650,702 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Biohaven by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock valued at $183,050,000 after purchasing an additional 212,699 shares during the last quarter. Farallon Capital Management LLC increased its stake in shares of Biohaven by 181.4% in the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after purchasing an additional 1,449,000 shares during the last quarter. Darwin Global Management Ltd. bought a new position in shares of Biohaven in the 1st quarter valued at $80,776,000. Finally, Armistice Capital LLC increased its stake in shares of Biohaven by 74.8% in the 2nd quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock valued at $48,489,000 after purchasing an additional 597,705 shares during the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John W. Childs purchased 21,052 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average cost of $47.50 per share, with a total value of $999,970.00. Following the purchase, the director now owns 21,052 shares in the company, valued at $999,970. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gregory Bailey purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the purchase, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. This trade represents a 0.31 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is owned by company insiders.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $45.19 on Friday. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of -4.83 and a beta of 1.31. The business’s 50-day moving average is $48.95 and its 200-day moving average is $41.07. Biohaven Ltd. has a 1 year low of $26.80 and a 1 year high of $62.21.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Analysts anticipate that Biohaven Ltd. will post -8.82 EPS for the current year.

Analysts Set New Price Targets

BHVN has been the topic of a number of research reports. Bank of America boosted their price objective on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada reduced their price objective on Biohaven from $68.00 to $66.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Leerink Partners boosted their price objective on Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. TD Cowen boosted their price objective on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, UBS Group reduced their price objective on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $63.42.

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.