D.A. Davidson & CO. Invests $1.20 Million in Biohaven Ltd. (NYSE:BHVN)

D.A. Davidson & CO. bought a new stake in shares of Biohaven Ltd. (NYSE:BHVN) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 23,916 shares of the company’s stock, valued at approximately $1,195,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oak Ridge Investments LLC grew its stake in shares of Biohaven by 197.6% during the 2nd quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock worth $764,000 after purchasing an additional 14,607 shares during the period. CWM LLC grew 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 buying an additional 13,822 shares during the period. SpiderRock Advisors LLC purchased a new position in Biohaven in the third quarter valued at $620,000. Principal Financial Group Inc. increased its holdings in Biohaven by 234.5% in the second quarter. Principal Financial Group Inc. now owns 79,048 shares of the company’s stock valued at $2,744,000 after buying an additional 55,415 shares in the last quarter. Finally, Cadent Capital Advisors LLC acquired a new position in shares of Biohaven in the third quarter worth about $1,771,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director John W. Childs acquired 21,052 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was purchased 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 owns 21,052 shares in the company, valued at approximately $999,970. This trade represents a ? increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Bailey bought 5,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was purchased 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 $71,590,937.49. The trade was a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by company insiders.

Biohaven Stock Down 0.8 %

Shares of NYSE BHVN opened at $46.01 on Monday. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -4.92 and a beta of 1.31. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $62.21. The firm has a 50-day simple moving average of $49.77 and a 200-day simple moving average of $41.40.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BHVN shares. TD Cowen lifted their price target on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Jefferies Financial Group initiated coverage on Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 price objective on the stock. Leerink Partners upped their target price on Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. UBS Group dropped their price target on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research report on Wednesday, October 23rd. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Biohaven presently has an average rating of “Buy” and a consensus target price of $62.75.

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.