First Turn Management LLC Sells 50,203 Shares of Biohaven Ltd. (NYSE:BHVN)

First Turn Management LLC decreased its position in Biohaven Ltd. (NYSE:BHVN) by 13.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 315,816 shares of the company’s stock after selling 50,203 shares during the quarter. Biohaven makes up approximately 2.5% of First Turn Management LLC’s portfolio, making the stock its 17th largest holding. First Turn Management LLC’s holdings in Biohaven were worth $15,781,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. KBC Group NV increased its position in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after acquiring an additional 443 shares during the period. Victory Capital Management Inc. increased its position in Biohaven by 67.1% during the third quarter. Victory Capital Management Inc. now owns 363,615 shares of the company’s stock worth $18,170,000 after acquiring an additional 145,960 shares during the period. Venturi Wealth Management LLC increased its position in Biohaven by 19.1% during the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock worth $156,000 after acquiring an additional 500 shares during the period. SpiderRock Advisors LLC bought a new position in Biohaven during the third quarter worth $620,000. Finally, VELA Investment Management LLC increased its position in Biohaven by 25.6% during the third quarter. VELA Investment Management LLC now owns 17,530 shares of the company’s stock worth $876,000 after acquiring an additional 3,572 shares during the period. Institutional investors own 88.78% of the company’s stock.

Analyst Ratings Changes

BHVN has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Jefferies Financial Group began coverage on shares of Biohaven in a research report on Monday, September 16th. They set a “buy” rating and a $57.00 target price on the stock. William Blair upgraded shares of Biohaven to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright reiterated a “buy” rating and set a $59.00 price target on shares of Biohaven in a research note on Thursday, November 14th. Finally, UBS Group decreased their price target on shares of Biohaven from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. 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, Biohaven has an average rating of “Buy” and a consensus price target of $63.42.

Biohaven Stock Performance

Shares of NYSE:BHVN opened at $45.43 on Tuesday. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $62.21. The company’s fifty day moving average is $48.34 and its 200-day moving average is $40.96. The company has a market capitalization of $4.59 billion, a PE ratio of -4.86 and a beta of 1.31.

Biohaven (NYSE:BHVN) last issued its earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.67) by ($0.03). On average, analysts forecast that Biohaven Ltd. will post -8.87 EPS for the current year.

Insider Buying and Selling

In other news, Director John W. Childs purchased 21,052 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were acquired at an average cost of $47.50 per share, for a total transaction of $999,970.00. Following the transaction, the director now directly owns 21,052 shares of the company’s stock, valued at approximately $999,970. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Gregory Bailey purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average price of $44.19 per share, for a total transaction of $220,950.00. Following the completion of the transaction, the director now directly owns 1,620,071 shares in the company, valued at $71,590,937.49. This trade represents a 0.31 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.00% of the stock is owned by corporate insiders.

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.