Biohaven Ltd. (NYSE:BHVN) Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC trimmed its stake in Biohaven Ltd. (NYSE:BHVN) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 135,256 shares of the company’s stock after selling 2,295 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.13% of Biohaven worth $5,052,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BHVN. JPMorgan Chase & Co. grew its holdings in shares of Biohaven by 144.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company’s stock worth $73,922,000 after acquiring an additional 1,169,721 shares during the last quarter. Norges Bank acquired a new position in shares of Biohaven in the 4th quarter worth $33,711,000. Farallon Capital Management LLC grew its holdings in shares of Biohaven by 21.6% in the 4th quarter. Farallon Capital Management LLC now owns 4,428,167 shares of the company’s stock worth $165,392,000 after acquiring an additional 785,578 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Biohaven by 12.1% in the 4th quarter. Janus Henderson Group PLC now owns 6,982,425 shares of the company’s stock worth $260,735,000 after acquiring an additional 756,032 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Biohaven by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock worth $314,267,000 after acquiring an additional 628,211 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Trading Up 1.6%

BHVN opened at $16.07 on Friday. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -1.72 and a beta of 1.18. Biohaven Ltd. has a 1 year low of $14.69 and a 1 year high of $55.70. The stock has a fifty day moving average price of $22.31 and a 200 day moving average price of $34.20.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50). As a group, sell-side analysts forecast that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BHVN shares. Morgan Stanley lowered their price target on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. William Blair upgraded Biohaven to a “strong-buy” rating in a report on Thursday, April 24th. Cantor Fitzgerald upgraded Biohaven to a “strong-buy” rating in a report on Tuesday, May 13th. HC Wainwright reiterated a “buy” rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lowered their price target on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $62.00.

Insiders Place Their Bets

In related news, Director John W. Childs purchased 32,700 shares of Biohaven stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $30.47 per share, with a total value of $996,369.00. Following the completion of the transaction, the director now directly owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a 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.