Eventide Asset Management LLC Sells 234,837 Shares of Biohaven Ltd. (NYSE:BHVN)

Eventide Asset Management LLC lowered its stake in Biohaven Ltd. (NYSE:BHVN) by 37.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 399,827 shares of the company’s stock after selling 234,837 shares during the period. Eventide Asset Management LLC owned 0.42% of Biohaven worth $19,979,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. nVerses Capital LLC purchased a new position in Biohaven during the 3rd quarter valued at $50,000. Redwood Wealth Management Group LLC purchased a new position in Biohaven during the second quarter worth approximately $61,000. Values First Advisors Inc. purchased a new position in Biohaven during the third quarter worth about $78,000. US Bancorp DE lifted its position in shares of Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after purchasing an additional 790 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of Biohaven by 24.5% during the third 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 own 88.78% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. TD Cowen increased their target price on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. UBS Group lowered their price target on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Leerink Partners boosted their price objective on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Robert W. Baird boosted their target price on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Finally, Piper Sandler boosted their price target on Biohaven from $66.00 to $76.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $62.75.

Insider Transactions at Biohaven

In other news, Director Gregory Bailey bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The shares were acquired 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 approximately $71,590,937.49. This represents a 0.31 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John W. Childs acquired 21,052 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the acquisition, the director now directly owns 21,052 shares of the company’s stock, valued at approximately $999,970. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Biohaven Price Performance

Shares of NYSE:BHVN opened at $46.38 on Friday. Biohaven Ltd. has a one year low of $26.80 and a one year high of $62.21. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -4.96 and a beta of 1.31. The company has a 50 day moving average of $49.65 and a 200-day moving average of $41.28.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.03). Equities research analysts anticipate that Biohaven Ltd. will post -8.85 earnings per share 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.