Principal Financial Group Inc. Sells 4,942 Shares of Biohaven Ltd. (NYSE:BHVN)

Principal Financial Group Inc. cut its holdings in Biohaven Ltd. (NYSE:BHVN) by 6.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 74,106 shares of the company’s stock after selling 4,942 shares during the period. Principal Financial Group Inc.’s holdings in Biohaven were worth $3,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Biohaven by 280.5% during the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after purchasing an additional 4,650,702 shares during the period. Oak Ridge Investments LLC raised its position in Biohaven by 197.6% during the second quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock valued at $764,000 after purchasing an additional 14,607 shares in the last quarter. CWM LLC raised its position in Biohaven by 1,893.4% during the second quarter. CWM LLC now owns 14,552 shares of the company’s stock valued at $505,000 after purchasing an additional 13,822 shares in the last quarter. Bellevue Group AG raised its position in Biohaven by 7.0% during the first quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock valued at $62,894,000 after purchasing an additional 75,000 shares in the last quarter. Finally, Kennedy Capital Management LLC purchased a new stake in Biohaven during the first quarter valued at about $12,099,000. 88.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BHVN shares. Piper Sandler raised their price target on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Leerink Partners lifted their price objective on Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Jefferies Financial Group began coverage on Biohaven in a report on Monday, September 16th. They set a “buy” rating and a $57.00 price target on the stock. Bank of America boosted their price target on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, William Blair upgraded Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $63.42.

Biohaven Stock Performance

BHVN stock opened at $45.19 on Friday. The business’s 50 day moving average price is $48.95 and its two-hundred day moving average price is $41.07. Biohaven Ltd. has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The company has a market capitalization of $4.57 billion, a price-to-earnings ratio of -4.83 and a beta of 1.31.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Sell-side analysts forecast that Biohaven Ltd. will post -8.82 earnings per share for the current year.

Insider Transactions at Biohaven

In other Biohaven news, Director Gregory Bailey acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. The trade was a 0.31 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John W. Childs acquired 21,052 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was acquired at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the completion of the transaction, the director now directly owns 21,052 shares in the company, valued at $999,970. This represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

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.