Handelsbanken Fonder AB Buys 3,500 Shares of Biohaven Ltd. (NYSE:BHVN)

Handelsbanken Fonder AB raised its stake in Biohaven Ltd. (NYSE:BHVN) by 20.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,700 shares of the company’s stock after buying an additional 3,500 shares during the period. Handelsbanken Fonder AB’s holdings in Biohaven were worth $1,034,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in BHVN. Redwood Wealth Management Group LLC bought a new stake in Biohaven in the 2nd quarter worth approximately $61,000. Elkhorn Partners Limited Partnership purchased a new position in shares of Biohaven during the second quarter worth approximately $125,000. Quarry LP lifted its holdings in shares of Biohaven by 614.3% in the 2nd quarter. Quarry LP now owns 5,000 shares of the company’s stock worth $174,000 after acquiring an additional 4,300 shares during the last quarter. Cypress Wealth Services LLC bought a new stake in shares of Biohaven in the 1st quarter worth approximately $326,000. Finally, Algert Global LLC boosted its stake in shares of Biohaven by 5.9% in the 2nd quarter. Algert Global LLC now owns 7,402 shares of the company’s stock valued at $257,000 after purchasing an additional 412 shares in the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Analyst Ratings Changes

BHVN has been the topic of a number of analyst reports. UBS Group decreased their target price on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a report on Tuesday, September 24th. William Blair upgraded Biohaven to a “strong-buy” rating in a report on Friday, August 30th. Royal Bank of Canada lifted their price target on Biohaven from $59.00 to $68.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, Bank of America increased their price objective on Biohaven from $52.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $61.92.

Insider Transactions at Biohaven

In other news, Director John W. Childs purchased 28,400 shares of Biohaven stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the purchase, the director now directly owns 2,339,741 shares in the company, valued at approximately $83,458,561.47. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Biohaven news, Director Gregory Bailey bought 5,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was acquired 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 of the company’s stock, valued at approximately $71,590,937.49. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Childs bought 28,400 shares of the stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $35.67 per share, with a total value of $1,013,028.00. Following the completion of the acquisition, the director now directly owns 2,339,741 shares of the company’s stock, valued at approximately $83,458,561.47. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders bought 54,452 shares of company stock valued at $2,233,948. Corporate insiders own 16.00% of the company’s stock.

Biohaven Trading Up 4.4 %

Shares of NYSE BHVN opened at $53.73 on Friday. The firm has a fifty day simple moving average of $41.89 and a two-hundred day simple moving average of $40.28. Biohaven Ltd. has a 12 month low of $25.38 and a 12 month high of $62.21. The firm has a market capitalization of $5.08 billion, a PE ratio of -5.87 and a beta of 1.31.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). On average, sell-side analysts predict that Biohaven Ltd. will post -8.82 earnings per share for the current year.

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.