Bellevue Group AG Raises Stock Holdings in Biohaven Ltd. $BHVN

Bellevue Group AG raised its stake in Biohaven Ltd. (NYSE:BHVN) by 37.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,802,853 shares of the company’s stock after purchasing an additional 762,000 shares during the period. Biohaven accounts for approximately 0.9% of Bellevue Group AG’s investment portfolio, making the stock its 28th largest holding. Bellevue Group AG owned about 2.65% of Biohaven worth $39,548,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Biohaven by 31.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,572,042 shares of the company’s stock worth $36,292,000 after acquiring an additional 612,209 shares in the last quarter. Armistice Capital LLC increased its position in shares of Biohaven by 27.6% during the second quarter. Armistice Capital LLC now owns 2,136,000 shares of the company’s stock worth $30,139,000 after purchasing an additional 462,578 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Biohaven by 3.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,030,919 shares of the company’s stock valued at $28,660,000 after purchasing an additional 71,939 shares during the last quarter. ARS Investment Partners LLC boosted its position in shares of Biohaven by 14.3% in the 2nd quarter. ARS Investment Partners LLC now owns 1,188,126 shares of the company’s stock worth $16,764,000 after purchasing an additional 148,255 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in Biohaven by 10.0% during the 2nd quarter. Brown Advisory Inc. now owns 1,121,744 shares of the company’s stock valued at $15,828,000 after buying an additional 101,627 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Biohaven in a research note on Monday. Bank of America cut shares of Biohaven from a “buy” rating to a “neutral” rating and set a $10.00 price target for the company. in a report on Wednesday, November 5th. HC Wainwright downgraded Biohaven from a “buy” rating to a “neutral” rating and cut their target price for the company from $30.00 to $11.00 in a research report on Wednesday, December 3rd. Robert W. Baird set a $42.00 price target on Biohaven in a research note on Wednesday, November 5th. Finally, Morgan Stanley dropped their target price on Biohaven from $54.00 to $26.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Biohaven has an average rating of “Moderate Buy” and a consensus target price of $25.93.

Biohaven Stock Performance

NYSE:BHVN opened at $11.52 on Friday. Biohaven Ltd. has a fifty-two week low of $7.48 and a fifty-two week high of $44.28. The company has a debt-to-equity ratio of 1.91, a quick ratio of 2.86 and a current ratio of 2.86. The company has a fifty day moving average of $12.46 and a two-hundred day moving average of $13.97. The stock has a market capitalization of $1.22 billion, a PE ratio of -1.52 and a beta of 1.13.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Monday, November 10th. The company reported ($1.64) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.27. As a group, research analysts forecast that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Gregory Bailey bought 400,000 shares of Biohaven stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $7.50 per share, with a total value of $3,000,000.00. Following the completion of the purchase, the director directly owned 2,020,071 shares of the company’s stock, valued at approximately $15,150,532.50. This trade represents a 24.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO George C. Clark bought 17,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was purchased at an average price of $8.52 per share, for a total transaction of $144,840.00. Following the completion of the acquisition, the chief accounting officer directly owned 20,000 shares in the company, valued at $170,400. The trade was a 566.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders purchased 4,416,999 shares of company stock worth $33,144,833. 16.00% of the stock is currently owned by corporate insiders.

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.