EFG Asset Management North America Corp. Takes Position in Biohaven Ltd. (NYSE:BHVN)

EFG Asset Management North America Corp. acquired a new stake in Biohaven Ltd. (NYSE:BHVN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 56,713 shares of the company’s stock, valued at approximately $2,117,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock valued at $314,267,000 after purchasing an additional 628,211 shares during the period. Stifel Financial Corp boosted its stake in shares of Biohaven by 0.4% during the third quarter. Stifel Financial Corp now owns 6,509,261 shares of the company’s stock valued at $325,268,000 after purchasing an additional 28,684 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Biohaven by 5.6% during the third quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock valued at $311,142,000 after buying an additional 328,099 shares during the period. Geode Capital Management LLC raised its stake in Biohaven by 2.6% in the third quarter. Geode Capital Management LLC now owns 1,714,612 shares of the company’s stock worth $85,696,000 after buying an additional 44,174 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in Biohaven by 745.9% during the third quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock worth $74,969,000 after buying an additional 1,322,922 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John W. Childs bought 32,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $30.47 per share, with a total value of $996,369.00. Following the completion of the acquisition, the director now directly owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This trade represents a 1.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.00% of the company’s stock.

Biohaven Trading Down 4.0 %

NYSE:BHVN opened at $29.80 on Wednesday. Biohaven Ltd. has a twelve month low of $26.80 and a twelve month high of $59.53. The company has a market cap of $3.04 billion, a PE ratio of -3.19 and a beta of 1.27. The company’s 50 day moving average is $35.65 and its two-hundred day moving average is $41.56.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, analysts expect that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley cut their target price on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. decreased their price target on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Biohaven in a research report on Tuesday, February 11th. They issued a “buy” rating and a $65.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Fourteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $63.15.

Biohaven Company 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.