Erste Asset Management GmbH Makes New $2.62 Million Investment in Biohaven Ltd. (NYSE:BHVN)

Erste Asset Management GmbH bought a new stake in Biohaven Ltd. (NYSE:BHVN) during the third quarter, HoldingsChannel.com reports. The fund bought 51,300 shares of the company’s stock, valued at approximately $2,616,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC acquired a new position in Biohaven during the 3rd quarter worth approximately $50,000. Redwood Wealth Management Group LLC acquired a new position in shares of Biohaven during the second quarter worth $61,000. Values First Advisors Inc. purchased a new position in shares of Biohaven in the third quarter valued at $78,000. US Bancorp DE grew its holdings in Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after purchasing an additional 790 shares in the last quarter. Finally, KBC Group NV increased its stake in Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after buying an additional 443 shares during the period. Institutional investors and hedge funds own 88.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gregory Bailey purchased 5,000 shares of the stock in a transaction dated Tuesday, September 24th. The stock was acquired at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The trade was a 0.31 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Childs acquired 21,052 shares of the company’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 acquisition, 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 disclosure for this purchase can be found here. 16.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BHVN. William Blair raised shares of Biohaven to a “strong-buy” rating in a research report on Friday, August 30th. 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. Royal Bank of Canada reduced their target price on Biohaven from $66.00 to $58.00 and set an “outperform” rating for the company in a research note on Monday, November 25th. Piper Sandler lifted their price target on shares of Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, HC Wainwright reiterated a “buy” rating and set a $59.00 price objective on shares of Biohaven in a research note on Tuesday, November 26th. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $62.75.

Biohaven Stock Down 2.8 %

BHVN opened at $44.74 on Tuesday. The company’s 50-day moving average price is $49.77 and its 200 day moving average price is $41.43. Biohaven Ltd. has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of -4.92 and a beta of 1.31.

Biohaven (NYSE:BHVN) last announced its quarterly 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). Research analysts anticipate that Biohaven Ltd. will post -8.85 earnings per share for the current year.

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.