Emerald Advisers LLC Purchases Shares of 360,538 Biohaven Ltd. (NYSE:BHVN)

Emerald Advisers LLC purchased a new stake in shares of Biohaven Ltd. (NYSE:BHVN) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 360,538 shares of the company’s stock, valued at approximately $13,466,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BHVN. Point72 Asset Management L.P. increased its stake in Biohaven by 745.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company’s stock valued at $74,969,000 after purchasing an additional 1,322,922 shares in the last quarter. Vanguard Group Inc. increased its stake in Biohaven by 8.1% during the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company’s stock valued at $314,267,000 after purchasing an additional 628,211 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Biohaven by 563.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company’s stock worth $25,416,000 after acquiring an additional 431,954 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Biohaven by 85.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company’s stock worth $40,448,000 after acquiring an additional 372,737 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake 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 in the last quarter. Institutional investors own 88.78% of the company’s stock.

Insider Transactions at Biohaven

In other news, Director John W. Childs purchased 32,700 shares of the stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average cost of $30.47 per share, with a total value of $996,369.00. Following the completion of the acquisition, the director now owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 16.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BHVN. Morgan Stanley reduced their target price on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. JPMorgan Chase & Co. cut their price target on shares of Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. HC Wainwright reissued a “buy” rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Tuesday, December 17th. Fourteen 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, the stock has an average rating of “Buy” and an average price target of $63.15.

Biohaven Stock Up 1.5 %

NYSE BHVN opened at $28.61 on Friday. The company has a market cap of $2.92 billion, a PE ratio of -3.06 and a beta of 1.27. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $59.53. The firm’s 50-day simple moving average is $35.89 and its two-hundred day simple moving average is $41.63.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, equities research analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current year.

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.