EFG Asset Management North America Corp. Makes New Investment in Biohaven Ltd. (NYSE:BHVN)

EFG Asset Management North America Corp. purchased a new stake in shares of Biohaven Ltd. (NYSE:BHVN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 56,713 shares of the company’s stock, valued at approximately $2,117,000. EFG Asset Management North America Corp. owned about 0.06% of Biohaven as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in BHVN. Prudential Financial Inc. grew its holdings in shares of Biohaven by 9.4% in the fourth quarter. Prudential Financial Inc. now owns 5,980 shares of the company’s stock worth $223,000 after acquiring an additional 514 shares during the period. Corebridge Financial Inc. grew its stake in shares of Biohaven by 6.4% during the 4th quarter. Corebridge Financial Inc. now owns 42,701 shares of the company’s stock valued at $1,595,000 after purchasing an additional 2,552 shares during the period. Emerald Advisers LLC bought a new stake in shares of Biohaven during the 4th quarter valued at about $13,466,000. Vanguard Group Inc. increased its position in shares of Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock valued at $314,267,000 after purchasing an additional 628,211 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Biohaven by 4.1% in the 4th quarter. LPL Financial LLC now owns 42,190 shares of the company’s stock worth $1,576,000 after purchasing an additional 1,664 shares during the period. 88.78% of the stock is currently owned by institutional investors.

Biohaven Stock Performance

Shares of NYSE BHVN opened at $29.80 on Wednesday. Biohaven Ltd. has a fifty-two week low of $26.80 and a fifty-two week high of $59.53. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -3.19 and a beta of 1.27. The business’s 50 day moving average price is $35.65 and its 200-day moving average price is $41.56.

Biohaven (NYSE:BHVN) last released its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). Sell-side analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insider Buying and Selling

In related news, Director John W. Childs acquired 32,700 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $30.47 per share, with a total value of $996,369.00. Following the transaction, the director now directly owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 16.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BHVN has been the subject of a number of research reports. Morgan Stanley reduced 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. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered 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. HC Wainwright restated a “buy” rating and issued a $54.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research report on Tuesday, December 17th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $63.15.

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.