Oak Ridge Investments LLC Cuts Stock Position in Biohaven Ltd. (NYSE:BHVN)

Oak Ridge Investments LLC trimmed its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 3.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,471 shares of the company’s stock after selling 675 shares during the period. Oak Ridge Investments LLC’s holdings in Biohaven were worth $765,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in Biohaven by 9.4% in the second quarter. Commonwealth Equity Services LLC now owns 13,338 shares of the company’s stock valued at $463,000 after acquiring an additional 1,150 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Biohaven by 6.1% during the second quarter. Hsbc Holdings PLC now owns 8,291 shares of the company’s stock valued at $286,000 after purchasing an additional 480 shares during the period. Inspire Investing LLC grew its holdings in Biohaven by 57.5% during the second quarter. Inspire Investing LLC now owns 10,150 shares of the company’s stock valued at $352,000 after purchasing an additional 3,706 shares during the period. Public Employees Retirement Association of Colorado increased its position in Biohaven by 114.5% in the second quarter. Public Employees Retirement Association of Colorado now owns 7,796 shares of the company’s stock worth $271,000 after buying an additional 4,162 shares during the last quarter. Finally, Profund Advisors LLC grew its stake in shares of Biohaven by 42.4% during the 2nd quarter. Profund Advisors LLC now owns 36,239 shares of the company’s stock worth $1,258,000 after acquiring an additional 10,786 shares during the period. Institutional investors own 88.78% of the company’s stock.

Biohaven Stock Performance

BHVN stock opened at $37.57 on Monday. Biohaven Ltd. has a fifty-two week low of $26.80 and a fifty-two week high of $62.21. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of -4.02 and a beta of 1.29. The business’s 50 day moving average price is $41.33 and its two-hundred day moving average price is $42.37.

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

Insider Buying and Selling

In related news, Director John W. Childs purchased 29,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $35.94 per share, for a total transaction of $1,042,260.00. Following the purchase, the director now directly owns 2,368,741 shares of the company’s stock, valued at approximately $85,132,551.54. This represents a 1.24 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 16.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

BHVN has been the subject of several analyst reports. Robert W. Baird raised their price objective on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. TD Cowen lifted their target price on shares of Biohaven from $55.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. JPMorgan Chase & Co. raised their price objective on shares of Biohaven from $55.00 to $68.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein upped their price objective on Biohaven from $55.00 to $66.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Finally, Leerink Partners lifted their target price on shares of Biohaven from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Thirteen research 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.com, the stock currently has an average rating of “Buy” and an average price target of $63.00.

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.