Fmr LLC Sells 13,092 Shares of Biohaven Ltd. (NYSE:BHVN)

Fmr LLC trimmed its stake in Biohaven Ltd. (NYSE:BHVN) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,841,095 shares of the company’s stock after selling 13,092 shares during the period. Fmr LLC owned about 1.95% of Biohaven worth $91,999,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. D.A. Davidson & CO. bought a new stake in Biohaven during the third quarter worth about $1,195,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Biohaven by 4.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 192,677 shares of the company’s stock worth $9,628,000 after acquiring an additional 8,905 shares in the last quarter. Pekin Hardy Strauss Inc. grew its position in Biohaven by 27.6% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 16,975 shares of the company’s stock worth $848,000 after acquiring an additional 3,675 shares during the last quarter. Algert Global LLC grew its position in Biohaven by 337.6% during the 3rd quarter. Algert Global LLC now owns 32,392 shares of the company’s stock worth $1,619,000 after acquiring an additional 24,990 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in Biohaven by 125.8% during the 3rd quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock valued at $5,992,000 after purchasing an additional 66,801 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Stock Performance

NYSE BHVN opened at $43.44 on Friday. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $62.21. The stock’s 50 day moving average price is $49.50 and its two-hundred day moving average price is $41.56. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of -4.65 and a beta of 1.24.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, equities research analysts forecast that Biohaven Ltd. will post -8.85 EPS for the current year.

Insider Transactions at Biohaven

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. 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 research report on Tuesday, August 13th. William Blair raised Biohaven to a “strong-buy” rating in a report on Friday, August 30th. JPMorgan Chase & Co. lifted their target price on Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Bank of America upped their price target on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Finally, TD Cowen lifted 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. Thirteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $63.00.

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.