Lord Abbett & CO. LLC Makes New $7.28 Million Investment in Biohaven Ltd. (NYSE:BHVN)

Lord Abbett & CO. LLC purchased a new position in Biohaven Ltd. (NYSE:BHVN) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 133,046 shares of the company’s stock, valued at approximately $7,276,000. Lord Abbett & CO. LLC owned approximately 0.15% of Biohaven as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. bought a new position in Biohaven in the fourth quarter worth approximately $214,000. Prevail Innovative Wealth Advisors LLC bought a new position in shares of Biohaven in the fourth quarter valued at approximately $230,000. Private Advisor Group LLC bought a new position in shares of Biohaven in the fourth quarter valued at approximately $231,000. Capstone Investment Advisors LLC bought a new position in shares of Biohaven in the fourth quarter valued at approximately $235,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Biohaven in the third quarter valued at approximately $236,000. Institutional investors own 88.78% of the company’s stock.

Biohaven Trading Up 3.7 %

Shares of BHVN traded up $1.27 on Friday, reaching $35.98. 832,498 shares of the company’s stock traded hands, compared to its average volume of 1,259,995. The stock has a market cap of $3.18 billion, a PE ratio of -5.29 and a beta of 1.32. The stock’s 50 day simple moving average is $35.36 and its two-hundred day simple moving average is $43.57. Biohaven Ltd. has a 52-week low of $16.45 and a 52-week high of $62.21.

Biohaven (NYSE:BHVN) last released its earnings results on Thursday, May 9th. The company reported ($2.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.50) by ($0.70). Analysts forecast that Biohaven Ltd. will post -7.16 earnings per share for the current year.

Insider Buying and Selling at Biohaven

In other news, Director Gregory Bailey bought 48,780 shares of the stock in a transaction on Monday, April 22nd. The shares were purchased at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the completion of the purchase, the director now directly owns 1,574,568 shares in the company, valued at approximately $64,557,288. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director John W. Childs acquired 28,500 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average cost of $35.17 per share, for a total transaction of $1,002,345.00. Following the purchase, the director now owns 2,283,341 shares in the company, valued at approximately $80,305,102.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Bailey acquired 48,780 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average price of $41.00 per share, for a total transaction of $1,999,980.00. Following the completion of the purchase, the director now owns 1,574,568 shares in the company, valued at approximately $64,557,288. The disclosure for this purchase can be found here. Insiders have bought a total of 281,134 shares of company stock worth $11,010,792 over the last ninety days. 16.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BHVN. HC Wainwright restated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a report on Thursday, May 30th. UBS Group raised their target price on Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $59.00 target price on shares of Biohaven in a report on Tuesday, June 18th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Thursday, May 30th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $54.71.

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.