VELA Investment Management LLC Purchases 3,572 Shares of Biohaven Ltd. (NYSE:BHVN)

VELA Investment Management LLC increased its position in shares of Biohaven Ltd. (NYSE:BHVN) by 25.6% during the 3rd quarter, Holdings Channel reports. The fund owned 17,530 shares of the company’s stock after buying an additional 3,572 shares during the quarter. VELA Investment Management LLC’s holdings in Biohaven were worth $876,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. nVerses Capital LLC bought a new position in Biohaven in the third quarter valued at approximately $50,000. Redwood Wealth Management Group LLC bought a new position in Biohaven in the second quarter valued at approximately $61,000. Values First Advisors Inc. bought a new position in Biohaven in the third quarter valued at approximately $78,000. US Bancorp DE lifted its stake in Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares in the last quarter. Finally, Elkhorn Partners Limited Partnership bought a new position in Biohaven in the second quarter valued at approximately $125,000. Institutional investors own 88.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein lifted their price objective on shares of Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Leerink Partners lifted their price objective on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Robert W. Baird boosted their target price on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Finally, Morgan Stanley initiated coverage on shares of Biohaven in a report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price on the stock. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $61.92.

Biohaven Price Performance

BHVN traded up $1.12 on Friday, hitting $50.88. 609,801 shares of the stock were exchanged, compared to its average volume of 1,153,105. Biohaven Ltd. has a 12 month low of $26.80 and a 12 month high of $62.21. The business has a 50-day moving average of $45.69 and a two-hundred day moving average of $40.14. The firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of -5.56 and a beta of 1.31.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) earnings per share for the quarter, missing the consensus estimate of ($1.72) by ($1.92). Equities research analysts expect that Biohaven Ltd. will post -8.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was purchased at an average price of $44.19 per share, with a total value of $220,950.00. Following the completion of the purchase, the director now owns 1,620,071 shares in the company, valued at $71,590,937.49. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director John W. Childs acquired 21,052 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was bought at an average price of $47.50 per share, with a total value of $999,970.00. Following the completion of the purchase, the director now directly owns 21,052 shares of the company’s stock, valued at $999,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of $44.19 per share, with a total value of $220,950.00. Following the purchase, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

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.