Biohaven Ltd. (NYSE:BHVN) Shares Sold by Canton Hathaway LLC

Canton Hathaway LLC reduced its position in Biohaven Ltd. (NYSE:BHVN) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,350 shares of the company’s stock after selling 500 shares during the period. Canton Hathaway LLC’s holdings in Biohaven were worth $1,067,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BHVN. Pekin Hardy Strauss Inc. lifted its position in shares of Biohaven by 27.6% during the third quarter. Pekin Hardy Strauss Inc. now owns 16,975 shares of the company’s stock worth $848,000 after purchasing an additional 3,675 shares in the last quarter. Algert Global LLC raised its holdings in shares of Biohaven by 337.6% during the third quarter. Algert Global LLC now owns 32,392 shares of the company’s stock worth $1,619,000 after purchasing an additional 24,990 shares during the period. Citigroup Inc. raised its stake in Biohaven by 125.8% during the third quarter. Citigroup Inc. now owns 119,905 shares of the company’s stock worth $5,992,000 after acquiring an additional 66,801 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Biohaven by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 632,690 shares of the company’s stock worth $31,616,000 after purchasing an additional 32,769 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Biohaven in the third quarter valued at $565,000. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 21,052 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the acquisition, the director now owns 21,052 shares in the company, valued at $999,970. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gregory Bailey bought 5,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. This trade represents a 0.31 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by corporate insiders.

Biohaven Trading Down 10.0 %

Shares of NYSE:BHVN opened at $41.01 on Monday. The company has a 50 day moving average of $49.10 and a 200-day moving average of $41.10. Biohaven Ltd. has a one year low of $26.80 and a one year high of $62.21.

Biohaven (NYSE:BHVN) last issued its earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.03). Research analysts forecast that Biohaven Ltd. will post -8.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BHVN. Leerink Partners lifted their target price on Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. TD Cowen increased their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Wednesday, October 23rd. UBS Group cut their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $59.00 price target on shares of Biohaven in a research report on Thursday, November 14th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Biohaven currently has an average rating of “Buy” and a consensus target price of $63.42.

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.