Janus Henderson Group PLC Reduces Holdings in Biohaven Ltd. (NYSE:BHVN)

Janus Henderson Group PLC lowered its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,713,512 shares of the company’s stock after selling 187,831 shares during the quarter. Janus Henderson Group PLC owned about 6.47% of Biohaven worth $312,517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thompson Davis & CO. Inc. acquired a new stake in Biohaven during the 4th quarter worth about $214,000. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Biohaven in the fourth quarter worth about $230,000. Private Advisor Group LLC acquired a new stake in shares of Biohaven during the fourth quarter worth about $231,000. Capstone Investment Advisors LLC purchased a new stake in Biohaven in the fourth quarter valued at approximately $235,000. Finally, Cypress Wealth Services LLC acquired a new position in Biohaven in the 1st quarter worth approximately $326,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $59.00 price objective on shares of Biohaven in a research note on Tuesday, June 18th. UBS Group upped their price target on shares of Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Morgan Stanley initiated coverage on Biohaven in a research report on Wednesday, July 24th. They set an “overweight” rating and a $58.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Biohaven in a report on Thursday, May 30th. Finally, HC Wainwright restated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research note on Thursday, May 30th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Biohaven currently has a consensus rating of “Buy” and a consensus target price of $55.13.

Insiders Place Their Bets

In related news, Director John W. Childs purchased 28,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of $35.58 per share, with a total value of $996,240.00. Following the purchase, the director now owns 2,311,341 shares of the company’s stock, valued at approximately $82,237,512.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John W. Childs acquired 28,000 shares of Biohaven stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average cost of $35.58 per share, with a total value of $996,240.00. Following the purchase, the director now owns 2,311,341 shares in the company, valued at $82,237,512.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Childs bought 28,400 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average cost of $35.67 per share, with a total value of $1,013,028.00. Following the acquisition, the director now directly owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 84,900 shares of company stock worth $3,011,613. Company insiders own 16.00% of the company’s stock.

Biohaven Stock Down 3.2 %

Shares of NYSE:BHVN traded down $1.29 during trading on Tuesday, reaching $38.43. 585,694 shares of the company’s stock traded hands, compared to its average volume of 1,240,917. Biohaven Ltd. has a fifty-two week low of $16.45 and a fifty-two week high of $62.21. The company has a 50-day simple moving average of $35.58 and a 200-day simple moving average of $43.29. The firm has a market cap of $3.39 billion, a PE ratio of -5.63 and a beta of 1.32.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($2.20) EPS for the quarter, missing the consensus estimate of ($1.50) by ($0.70). On average, equities research analysts forecast that Biohaven Ltd. will post -7.09 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.