Venturi Wealth Management LLC Raises Position in Biohaven Ltd. (NYSE:BHVN)

Venturi Wealth Management LLC boosted its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 19.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,117 shares of the company’s stock after buying an additional 500 shares during the period. Venturi Wealth Management LLC’s holdings in Biohaven were worth $156,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Biohaven by 280.5% in the 1st quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after buying an additional 4,650,702 shares during the last quarter. Darwin Global Management Ltd. bought a new position in Biohaven in the first quarter valued at $80,776,000. Farallon Capital Management LLC raised its position in Biohaven by 181.4% during the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after purchasing an additional 1,449,000 shares in the last quarter. Armistice Capital LLC lifted its stake in Biohaven by 74.8% during the second quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock worth $48,489,000 after purchasing an additional 597,705 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Biohaven by 166.8% in the 2nd quarter. American Century Companies Inc. now owns 511,237 shares of the company’s stock worth $17,745,000 after purchasing an additional 319,634 shares in the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Biohaven Stock Performance

NYSE BHVN opened at $49.08 on Thursday. The stock has a market cap of $4.64 billion, a P/E ratio of -5.25 and a beta of 1.31. Biohaven Ltd. has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The stock has a 50 day simple moving average of $47.77 and a two-hundred day simple moving average of $40.82.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BHVN shares. Robert W. Baird boosted their target price on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Piper Sandler boosted their price objective on shares of Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Morgan Stanley assumed coverage on shares of Biohaven in a report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price on the stock. Sanford C. Bernstein boosted their price target on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, TD Cowen raised their price objective on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $63.42.

Insider Activity at Biohaven

In related news, Director Gregory Bailey purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired 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 directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Gregory Bailey purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average cost of $44.19 per share, with a total value of $220,950.00. Following the completion of the purchase, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John W. Childs acquired 21,052 shares of the stock in a transaction on Wednesday, October 2nd. The stock was bought at an average price of $47.50 per share, with a total value of $999,970.00. Following the completion of the acquisition, the director now directly owns 21,052 shares of the company’s stock, valued at $999,970. The disclosure for this purchase can be found here. 16.00% of the stock is owned by corporate insiders.

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.