Rafferty Asset Management LLC Sells 2,295 Shares of Biohaven Ltd. (NYSE:BHVN)

Rafferty Asset Management LLC cut its holdings in Biohaven Ltd. (NYSE:BHVN) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 135,256 shares of the company’s stock after selling 2,295 shares during the period. Rafferty Asset Management LLC’s holdings in Biohaven were worth $5,052,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in BHVN. Barclays PLC increased its stake in shares of Biohaven by 87.6% in the third quarter. Barclays PLC now owns 268,077 shares of the company’s stock worth $13,396,000 after purchasing an additional 125,189 shares during the period. ARS Investment Partners LLC increased its stake in Biohaven by 1.0% during the fourth quarter. ARS Investment Partners LLC now owns 1,040,712 shares of the company’s stock valued at $38,871,000 after acquiring an additional 10,473 shares during the period. Inspire Investing LLC increased its stake in Biohaven by 32.9% during the fourth quarter. Inspire Investing LLC now owns 10,895 shares of the company’s stock valued at $407,000 after acquiring an additional 2,698 shares during the period. KBC Group NV increased its stake in Biohaven by 50.1% during the fourth quarter. KBC Group NV now owns 3,377 shares of the company’s stock valued at $126,000 after acquiring an additional 1,127 shares during the period. Finally, FSC Wealth Advisors LLC increased its stake in Biohaven by 3.3% during the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company’s stock valued at $579,000 after acquiring an additional 500 shares during the period. 88.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BHVN has been the topic of several research reports. Morgan Stanley lowered their price target on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. William Blair upgraded Biohaven to a “strong-buy” rating in a research note on Thursday, April 24th. HC Wainwright restated a “buy” rating and set a $54.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered 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. Finally, Royal Bank of Canada lowered their price objective on Biohaven from $61.00 to $54.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. Thirteen analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $62.00.

Biohaven Price Performance

NYSE BHVN opened at $16.07 on Friday. The firm has a market cap of $1.64 billion, a PE ratio of -1.72 and a beta of 1.18. Biohaven Ltd. has a one year low of $14.69 and a one year high of $55.70. The stock’s 50 day simple moving average is $22.31 and its 200 day simple moving average is $34.20.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Monday, May 12th. The company reported ($2.17) EPS for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.50). As a group, equities analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insider Buying and Selling at Biohaven

In other news, Director John W. Childs acquired 32,700 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the transaction, the director now owns 2,320,571 shares of the company’s stock, valued at approximately $70,707,798.37. This represents a 1.43% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 16.00% of the company’s stock.

Biohaven 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.