Barclays PLC Purchases 125,189 Shares of Biohaven Ltd. (NYSE:BHVN)

Barclays PLC lifted its position in shares of Biohaven Ltd. (NYSE:BHVN) by 87.6% during the third quarter, Holdings Channel reports. The institutional investor owned 268,077 shares of the company’s stock after purchasing an additional 125,189 shares during the period. Barclays PLC’s holdings in Biohaven were worth $13,396,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in shares of Biohaven in the third quarter worth about $1,339,000. XTX Topco Ltd boosted its stake in Biohaven by 278.5% in the 3rd quarter. XTX Topco Ltd now owns 32,510 shares of the company’s stock worth $1,625,000 after purchasing an additional 23,921 shares during the period. Wellington Management Group LLP grew its holdings in Biohaven by 600.9% during the 3rd quarter. Wellington Management Group LLP now owns 243,167 shares of the company’s stock valued at $12,151,000 after buying an additional 208,472 shares in the last quarter. Sphera Funds Management LTD. bought a new stake in shares of Biohaven during the third quarter valued at approximately $6,662,000. Finally, Stifel Financial Corp lifted its holdings in shares of Biohaven by 0.4% in the third quarter. Stifel Financial Corp now owns 6,509,261 shares of the company’s stock worth $325,268,000 after buying an additional 28,684 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Trading Down 4.2 %

Biohaven stock opened at $38.47 on Monday. Biohaven Ltd. has a 12-month low of $26.80 and a 12-month high of $62.21. The firm has a 50-day moving average price of $48.70 and a 200-day moving average price of $41.83. The firm has a market capitalization of $3.89 billion, a PE ratio of -4.11 and a beta of 1.24.

Biohaven (NYSE:BHVN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). As a group, sell-side analysts predict that Biohaven Ltd. will post -8.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BHVN has been the subject of several research analyst reports. Jefferies Financial Group began coverage on shares of Biohaven in a research note on Monday, September 16th. They set a “buy” rating and a $57.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a report on Wednesday, October 23rd. Robert W. Baird boosted their target price on Biohaven from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price objective (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Finally, Sanford C. Bernstein increased their target price on Biohaven from $55.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Thirteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $63.00.

Insider Activity at Biohaven

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