Eventide Asset Management LLC Sells 234,837 Shares of Biohaven Ltd. (NYSE:BHVN)

Eventide Asset Management LLC lessened its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 37.0% in the third quarter, Holdings Channel.com reports. The fund owned 399,827 shares of the company’s stock after selling 234,837 shares during the period. Eventide Asset Management LLC’s holdings in Biohaven were worth $19,979,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BHVN. nVerses Capital LLC bought a new position in shares of Biohaven during the 3rd quarter valued at about $50,000. Values First Advisors Inc. purchased a new stake in Biohaven during the third quarter valued at approximately $78,000. Redwood Wealth Management Group LLC bought a new stake in shares of Biohaven during the 2nd quarter worth approximately $61,000. US Bancorp DE lifted its stake in shares of Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after acquiring an additional 790 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BHVN. HC Wainwright restated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research note on Tuesday. Royal Bank of Canada reduced their price objective on Biohaven from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Monday. Bank of America lifted their price objective on shares of Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, UBS Group reduced their target price on Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $62.75.

Insider Transactions at Biohaven

In other news, Director John W. Childs bought 21,052 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the transaction, the director now directly owns 21,052 shares in the company, valued at $999,970. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory Bailey purchased 5,000 shares of Biohaven stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. This represents a 0.31 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Biohaven Stock Down 1.9 %

BHVN stock opened at $46.38 on Friday. Biohaven Ltd. has a 52-week low of $26.80 and a 52-week high of $62.21. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -4.96 and a beta of 1.31. The business has a fifty day moving average of $49.65 and a two-hundred day moving average of $41.28.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). As a group, sell-side analysts anticipate that Biohaven Ltd. will post -8.85 EPS for the current year.

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.