State Street Corp Sells 393,278 Shares of Biohaven Ltd. (NYSE:BHVN)

State Street Corp lessened its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 10.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,256,636 shares of the company’s stock after selling 393,278 shares during the quarter. State Street Corp’s holdings in Biohaven were worth $162,734,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Stifel Financial Corp raised its holdings in shares of Biohaven by 0.4% in the 3rd quarter. Stifel Financial Corp now owns 6,509,261 shares of the company’s stock worth $325,268,000 after acquiring an additional 28,684 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Biohaven by 5.6% in the 3rd quarter. Janus Henderson Group PLC now owns 6,226,393 shares of the company’s stock worth $311,142,000 after acquiring an additional 328,099 shares during the last quarter. Farallon Capital Management LLC raised its holdings in shares of Biohaven by 181.4% in the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock worth $78,028,000 after acquiring an additional 1,449,000 shares during the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Biohaven by 745.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock worth $74,969,000 after acquiring an additional 1,322,922 shares during the last quarter. Finally, Armistice Capital LLC raised its holdings in shares of Biohaven by 74.8% in the 2nd quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock worth $48,489,000 after acquiring an additional 597,705 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Down 4.1 %

Shares of BHVN stock opened at $38.50 on Friday. The company has a 50 day moving average of $48.70 and a 200-day moving average of $41.74. Biohaven Ltd. has a 12-month low of $26.80 and a 12-month high of $62.21. The firm has a market cap of $3.89 billion, a P/E ratio of -4.12 and a beta of 1.24.

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 the consensus estimate of ($1.67) by ($0.03). As a group, equities analysts expect that Biohaven Ltd. will post -8.85 EPS for the current year.

Insider Buying and Selling

In other Biohaven news, Director Gregory Bailey acquired 5,000 shares of the business’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 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 acquired at an average cost of $47.50 per share, with a total value of $999,970.00. Following the completion of the acquisition, the director now owns 21,052 shares in the company, valued at $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 owned by insiders.

Analyst Ratings Changes

BHVN has been the subject of several analyst reports. Sanford C. Bernstein increased their price objective on shares of Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Piper Sandler increased their price objective on shares of Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Biohaven has a consensus rating of “Buy” and an average price target of $63.00.

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.