SpiderRock Advisors LLC Acquires New Position in Biohaven Ltd. (NYSE:BHVN)

SpiderRock Advisors LLC acquired a new stake in shares of Biohaven Ltd. (NYSE:BHVN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 12,400 shares of the company’s stock, valued at approximately $620,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Biohaven by 280.5% during 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 period. Darwin Global Management Ltd. bought a new position in Biohaven during the 1st quarter valued at about $80,776,000. Farallon Capital Management LLC lifted its stake in Biohaven by 181.4% during the 2nd quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after acquiring an additional 1,449,000 shares during the period. Armistice Capital LLC lifted its stake in Biohaven by 74.8% during the 2nd quarter. Armistice Capital LLC now owns 1,396,968 shares of the company’s stock valued at $48,489,000 after acquiring an additional 597,705 shares during the period. Finally, American Century Companies Inc. lifted its stake in Biohaven by 166.8% during the 2nd quarter. American Century Companies Inc. now owns 511,237 shares of the company’s stock valued at $17,745,000 after acquiring an additional 319,634 shares during the period. 88.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Biohaven

In related news, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director John W. Childs acquired 21,052 shares of the business’s stock in a transaction 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 acquisition, the director now directly owns 21,052 shares in the company, valued at $999,970. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gregory Bailey acquired 5,000 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were 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 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 16.00% of the company’s stock.

Biohaven Trading Up 0.7 %

NYSE BHVN opened at $53.47 on Monday. Biohaven Ltd. has a 12 month low of $26.80 and a 12 month high of $62.21. The stock has a market cap of $5.06 billion, a price-to-earnings ratio of -5.84 and a beta of 1.31. The company’s 50 day moving average is $47.04 and its two-hundred day moving average is $40.58.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($3.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.92). Sell-side analysts forecast that Biohaven Ltd. will post -8.81 EPS for the current year.

Wall Street Analysts Forecast Growth

BHVN has been the topic of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research note on Wednesday, October 23rd. UBS Group lowered their price objective on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. Sanford C. Bernstein increased their price objective on shares of Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group started coverage on shares of Biohaven in a research note on Monday, September 16th. They issued a “buy” rating and a $57.00 price objective on the stock. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Biohaven presently has an average rating of “Buy” and a consensus price target of $61.92.

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.