Victory Capital Management Inc. Has $18.17 Million Holdings in Biohaven Ltd. (NYSE:BHVN)

Victory Capital Management Inc. boosted its stake in Biohaven Ltd. (NYSE:BHVN) by 67.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 363,615 shares of the company’s stock after purchasing an additional 145,960 shares during the quarter. Victory Capital Management Inc. owned about 0.38% of Biohaven worth $18,170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after purchasing an additional 4,650,702 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Biohaven by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,347,022 shares of the company’s stock valued at $183,050,000 after purchasing an additional 212,699 shares in the last quarter. Farallon Capital Management LLC raised its stake in Biohaven by 181.4% in the second quarter. Farallon Capital Management LLC now owns 2,248,000 shares of the company’s stock valued at $78,028,000 after purchasing an additional 1,449,000 shares in the last quarter. Darwin Global Management Ltd. acquired a new position in Biohaven in the first quarter valued at about $80,776,000. Finally, Armistice Capital LLC raised its stake in Biohaven by 74.8% during the second 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 in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

Biohaven Price Performance

Shares of BHVN stock opened at $45.43 on Tuesday. The business’s 50 day simple moving average is $48.34 and its 200 day simple moving average is $40.96. Biohaven Ltd. has a one year low of $26.80 and a one year high of $62.21. The stock has a market capitalization of $4.59 billion, a PE ratio of -4.86 and a beta of 1.31.

Biohaven (NYSE:BHVN) last posted 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). As a group, research analysts expect that Biohaven Ltd. will post -8.87 earnings per share for the current year.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs purchased 21,052 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were 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 of the company’s stock, valued at approximately $999,970. This represents a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Bailey bought 5,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were purchased at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now directly owns 1,620,071 shares of the company’s stock, valued at $71,590,937.49. This trade represents a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 16.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BHVN. William Blair raised Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. Morgan Stanley began coverage on Biohaven in a research note on Wednesday, July 24th. They set an “overweight” rating and a $58.00 target price for the company. Bank of America boosted their target price on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Robert W. Baird boosted their price target on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Finally, Piper Sandler boosted their price target on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $63.42.

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.