Sanctuary Advisors LLC Purchases New Position in Biohaven Ltd. (NYSE:BHVN)

Sanctuary Advisors LLC acquired a new position in shares of Biohaven Ltd. (NYSE:BHVN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,393 shares of the company’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Algert Global LLC grew its position in Biohaven by 5.9% during the second quarter. Algert Global LLC now owns 7,402 shares of the company’s stock valued at $257,000 after buying an additional 412 shares during the period. KBC Group NV grew its position in shares of Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after acquiring an additional 443 shares during the period. Hsbc Holdings PLC increased its stake in shares of Biohaven by 6.1% in the 2nd quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock valued at $286,000 after purchasing an additional 480 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Biohaven by 19.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after purchasing an additional 500 shares during the period. Finally, Arizona State Retirement System boosted its position in Biohaven by 3.7% during the second quarter. Arizona State Retirement System now owns 20,575 shares of the company’s stock worth $714,000 after purchasing an additional 730 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Price Performance

Shares of BHVN opened at $36.66 on Friday. The firm has a 50-day simple moving average of $45.63 and a two-hundred day simple moving average of $41.90. Biohaven Ltd. has a 1-year low of $26.80 and a 1-year high of $62.21. The stock has a market cap of $3.71 billion, a PE ratio of -3.92 and a beta of 1.24.

Biohaven (NYSE:BHVN) last announced its earnings results 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). As a group, sell-side analysts expect that Biohaven Ltd. will post -8.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs purchased 21,052 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was acquired at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares in the company, valued at approximately $999,970. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 16.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BHVN shares. TD Cowen upped their target price on Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price objective on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Piper Sandler lifted their target price on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Leerink Partners upped their price target on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, Robert W. Baird lifted their price objective on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus 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.