Sigma Planning Corp Cuts Position in Biohaven Ltd. (NYSE:BHVN)

Sigma Planning Corp decreased its position in Biohaven Ltd. (NYSE:BHVN) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,204 shares of the company’s stock after selling 382 shares during the quarter. Sigma Planning Corp’s holdings in Biohaven were worth $410,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. 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 valued at $345,031,000 after acquiring an additional 4,650,702 shares during the last quarter. Oak Ridge Investments LLC increased its stake in Biohaven by 197.6% in the second quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock valued at $764,000 after purchasing an additional 14,607 shares during the last quarter. CWM LLC raised its holdings in Biohaven by 1,893.4% during the second quarter. CWM LLC now owns 14,552 shares of the company’s stock worth $505,000 after purchasing an additional 13,822 shares in the last quarter. Bellevue Group AG lifted its position in shares of Biohaven by 7.0% during the 1st quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock worth $62,894,000 after buying an additional 75,000 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Biohaven in the 1st quarter valued at $7,276,000. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Insiders Place Their Bets

In related news, Director Gregory Bailey bought 5,000 shares of the company’s stock in a transaction 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 acquisition, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This represents a 0.31 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Childs purchased 21,052 shares of Biohaven stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $47.50 per share, with a total value 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 position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley began coverage on shares of Biohaven in a research report on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price target for the company. JPMorgan Chase & Co. upped their target price on Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Bank of America lifted their price target on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, September 24th. Robert W. Baird increased their price objective on Biohaven from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Finally, Leerink Partners raised their target price on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Thirteen equities 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, Biohaven has an average rating of “Buy” and a consensus target price of $63.42.

Biohaven Stock Performance

Shares of BHVN opened at $44.37 on Friday. Biohaven Ltd. has a 1 year low of $26.80 and a 1 year high of $62.21. The stock has a market capitalization of $4.49 billion, a P/E ratio of -4.75 and a beta of 1.31. The company’s fifty day moving average is $48.16 and its two-hundred day moving average is $40.91.

Biohaven (NYSE:BHVN) last issued its quarterly 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). Sell-side analysts predict that Biohaven Ltd. will post -8.81 EPS 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.