Elkhorn Partners Limited Partnership Boosts Holdings in Biohaven Ltd. (NYSE:BHVN)

Elkhorn Partners Limited Partnership grew its position in shares of Biohaven Ltd. (NYSE:BHVN) by 50.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,300 shares of the company’s stock after buying an additional 1,100 shares during the quarter. Biohaven accounts for 0.1% of Elkhorn Partners Limited Partnership’s investment portfolio, making the stock its 23rd largest holding. Elkhorn Partners Limited Partnership’s holdings in Biohaven were worth $123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC raised its position in Biohaven by 6.1% in the fourth quarter. HighTower Advisors LLC now owns 5,870 shares of the company’s stock worth $219,000 after acquiring an additional 335 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Biohaven by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock valued at $4,206,000 after purchasing an additional 412 shares in the last quarter. FSC Wealth Advisors LLC lifted its stake in shares of Biohaven by 3.3% in the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company’s stock valued at $579,000 after purchasing an additional 500 shares during the period. Prudential Financial Inc. boosted its holdings in Biohaven by 9.4% during the fourth quarter. Prudential Financial Inc. now owns 5,980 shares of the company’s stock worth $223,000 after buying an additional 514 shares in the last quarter. Finally, Amalgamated Bank grew its position in Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock worth $109,000 after buying an additional 527 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Insider Activity

In related news, Director John W. Childs purchased 32,700 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 16.00% of the company’s stock.

Biohaven Stock Performance

BHVN stock opened at $17.55 on Monday. The company has a 50 day moving average price of $30.45 and a two-hundred day moving average price of $39.49. The stock has a market capitalization of $1.79 billion, a P/E ratio of -1.88 and a beta of 1.33. Biohaven Ltd. has a one year low of $15.79 and a one year high of $55.70.

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

Analyst Upgrades and Downgrades

BHVN has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. JPMorgan Chase & Co. decreased their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the stock a “buy” rating in a research report on Thursday, March 20th. Finally, Morgan Stanley dropped their target price on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $62.77.

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.