Oak Ridge Investments LLC Sells 854 Shares of Biohaven Ltd. (NYSE:BHVN)

Oak Ridge Investments LLC decreased its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 3.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,146 shares of the company’s stock after selling 854 shares during the period. Oak Ridge Investments LLC’s holdings in Biohaven were worth $1,057,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Biohaven by 280.5% during the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock valued at $345,031,000 after buying an additional 4,650,702 shares during the period. CWM LLC lifted its stake in Biohaven by 1,893.4% during the second quarter. CWM LLC now owns 14,552 shares of the company’s stock worth $505,000 after purchasing an additional 13,822 shares during the last quarter. Bellevue Group AG lifted its stake in Biohaven by 7.0% during the first quarter. Bellevue Group AG now owns 1,150,000 shares of the company’s stock worth $62,894,000 after purchasing an additional 75,000 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Biohaven during the first quarter worth about $7,276,000. Finally, Kennedy Capital Management LLC bought a new stake in Biohaven during the first quarter worth about $12,099,000. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Performance

Shares of NYSE:BHVN opened at $49.72 on Friday. Biohaven Ltd. has a 1 year low of $25.97 and a 1 year high of $62.21. The stock’s 50-day moving average is $45.50 and its 200 day moving average is $40.08.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results 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). As a group, analysts forecast that Biohaven Ltd. will post -8.81 EPS for the current fiscal year.

Insider Activity at Biohaven

In other news, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the acquisition, the director now owns 1,620,071 shares of the company’s stock, valued at approximately $71,590,937.49. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director John W. Childs bought 21,052 shares of Biohaven stock in a transaction on Wednesday, October 2nd. The shares were purchased at an average price 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. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory Bailey bought 5,000 shares of Biohaven stock in a transaction on Tuesday, September 24th. The shares were purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the acquisition, the director now directly owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Biohaven in a research note on Monday, September 16th. They set a “buy” rating and a $57.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Piper Sandler lifted their price target on Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Bank of America lifted their price target on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Finally, Sanford C. Bernstein boosted their target price on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average 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.