Altium Capital Management LLC Purchases 175,000 Shares of Biohaven Ltd. (NYSE:BHVN)

Altium Capital Management LLC raised its position in Biohaven Ltd. (NYSE:BHVN) by 233.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 250,000 shares of the company’s stock after purchasing an additional 175,000 shares during the quarter. Biohaven accounts for approximately 2.6% of Altium Capital Management LLC’s holdings, making the stock its 13th largest holding. Altium Capital Management LLC owned 0.25% of Biohaven worth $9,338,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BHVN. Teacher Retirement System of Texas increased its stake in Biohaven by 31.6% in the 4th quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company’s stock valued at $871,000 after buying an additional 5,600 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Biohaven by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company’s stock valued at $11,021,000 after acquiring an additional 24,703 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Biohaven by 85.4% during the third 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. American Century Companies Inc. raised its holdings in Biohaven by 9.5% during the fourth quarter. American Century Companies Inc. now owns 558,761 shares of the company’s stock worth $20,870,000 after acquiring an additional 48,286 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Biohaven by 6.6% in the fourth quarter. Alliancebernstein L.P. now owns 96,236 shares of the company’s stock valued at $3,594,000 after purchasing an additional 5,951 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BHVN shares. JPMorgan Chase & Co. dropped their price objective on Biohaven from $72.00 to $68.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. HC Wainwright reissued a “buy” rating and issued a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Morgan Stanley lowered their price objective on shares of Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Biohaven and gave the company a “buy” rating in a research note on Thursday, March 20th. Fourteen investment 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.com, the stock currently has an average rating of “Buy” and a consensus target price of $62.77.

Biohaven Trading Up 9.2 %

Shares of NYSE BHVN opened at $20.41 on Friday. The firm has a market cap of $2.08 billion, a P/E ratio of -2.18 and a beta of 1.33. The business’s 50 day moving average is $28.88 and its 200-day moving average is $38.78. Biohaven Ltd. has a 1-year low of $15.79 and a 1-year high of $55.70.

Biohaven (NYSE:BHVN) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29). Analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current year.

Insider Buying and Selling

In related news, Director John W. Childs purchased 32,700 shares of Biohaven stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, with a total value of $996,369.00. Following the completion of the transaction, the director now directly owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This represents a 1.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 16.00% of the stock is owned by insiders.

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.