Exchange Traded Concepts LLC Sells 3,605 Shares of Biohaven Ltd. (NYSE:BHVN)

Exchange Traded Concepts LLC trimmed its position in shares of Biohaven Ltd. (NYSE:BHVN) by 18.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,288 shares of the company’s stock after selling 3,605 shares during the period. Exchange Traded Concepts LLC’s holdings in Biohaven were worth $608,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC boosted its stake in Biohaven by 6.1% in the 2nd quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock worth $286,000 after purchasing an additional 480 shares during the period. Squarepoint Ops LLC bought a new position in shares of Biohaven during the second quarter worth $592,000. AQR Capital Management LLC boosted its position in shares of Biohaven by 234.3% during the second quarter. AQR Capital Management LLC now owns 54,361 shares of the company’s stock worth $1,887,000 after acquiring an additional 38,101 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Biohaven by 12.3% during the second quarter. The Manufacturers Life Insurance Company now owns 183,772 shares of the company’s stock valued at $6,379,000 after acquiring an additional 20,154 shares in the last quarter. Finally, Algert Global LLC increased its holdings in 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 acquiring an additional 412 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. TD Cowen increased their target price on Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price target on shares of Biohaven in a research note on Tuesday, December 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target (up previously from $58.00) on shares of Biohaven in a report on Wednesday, December 4th. Thirteen research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Biohaven has an average rating of “Buy” and an average target price of $63.00.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs purchased 29,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was purchased at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the completion of the purchase, the director now owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. The trade was a 1.24 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 16.00% of the stock is owned by corporate insiders.

Biohaven Stock Up 3.2 %

BHVN opened at $38.94 on Friday. The business has a fifty day moving average of $39.80 and a 200 day moving average of $42.49. The stock has a market cap of $3.94 billion, a P/E ratio of -4.16 and a beta of 1.29. Biohaven Ltd. has a 52-week low of $26.80 and a 52-week high of $62.21.

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

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.