Pekin Hardy Strauss Inc. Purchases 3,675 Shares of Biohaven Ltd. (NYSE:BHVN)

Pekin Hardy Strauss Inc. raised its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 27.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,975 shares of the company’s stock after acquiring an additional 3,675 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Biohaven were worth $848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BHVN. nVerses Capital LLC acquired a new stake in Biohaven in the 3rd quarter valued at $50,000. Redwood Wealth Management Group LLC acquired a new position in Biohaven during the second quarter valued at approximately $61,000. Values First Advisors Inc. acquired a new position in shares of Biohaven during the 3rd quarter worth approximately $78,000. US Bancorp DE raised its stake in shares of Biohaven by 57.1% during the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock worth $109,000 after purchasing an additional 790 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock valued at $112,000 after buying an additional 443 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Biohaven

In other Biohaven 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, with a total value of $999,970.00. Following the acquisition, the director now owns 21,052 shares in the company, valued at $999,970. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Bailey purchased 5,000 shares of the stock in a transaction dated Tuesday, September 24th. The shares were acquired at an average cost of $44.19 per share, with a total value of $220,950.00. Following the acquisition, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. This represents a 0.31 % increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by insiders.

Biohaven Stock Performance

NYSE:BHVN opened at $45.59 on Monday. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $62.21. The firm’s 50-day simple moving average is $49.10 and its 200 day simple moving average is $41.10. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of -4.88 and a beta of 1.31.

Biohaven (NYSE:BHVN) last announced its earnings results on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). Sell-side analysts anticipate that Biohaven Ltd. will post -8.85 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lowered their target price on shares of Biohaven from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Leerink Partners upped their target price on shares of Biohaven from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Robert W. Baird lifted their price target on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research note on Wednesday, October 23rd. Finally, Bank of America lifted their target price on Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $63.42.

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.