Cypress Wealth Services LLC Acquires Shares of 5,965 Biohaven Ltd. (NYSE:BHVN)

Cypress Wealth Services LLC acquired a new position in shares of Biohaven Ltd. (NYSE:BHVN) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 5,965 shares of the company’s stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Perceptive Advisors LLC increased its stake in shares of Biohaven by 129.4% during the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock worth $73,832,000 after acquiring an additional 973,227 shares during the period. Simon Quick Advisors LLC increased its position in Biohaven by 36.3% during the 4th quarter. Simon Quick Advisors LLC now owns 74,968 shares of the company’s stock worth $3,209,000 after purchasing an additional 19,968 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Biohaven by 20.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,904 shares of the company’s stock worth $22,209,000 after buying an additional 86,890 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Biohaven by 27.9% in the 4th quarter. New York State Common Retirement Fund now owns 41,276 shares of the company’s stock valued at $1,767,000 after buying an additional 9,000 shares during the period. Finally, Citigroup Inc. boosted its stake in shares of Biohaven by 97.9% in the third quarter. Citigroup Inc. now owns 146,907 shares of the company’s stock valued at $3,821,000 after buying an additional 72,673 shares in the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BHVN has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biohaven in a research report on Thursday, May 30th. HC Wainwright reiterated a “buy” rating and issued a $59.00 price objective on shares of Biohaven in a research note on Thursday, May 30th. TD Cowen boosted their price objective on shares of Biohaven from $35.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $59.00 target price on shares of Biohaven in a report on Tuesday, June 18th. Finally, UBS Group boosted their price target on Biohaven from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $54.71.

Insider Transactions at Biohaven

In other Biohaven news, Director Gregory Bailey purchased 48,780 shares of Biohaven stock in a transaction on Monday, April 22nd. The shares were purchased at an average cost of $41.00 per share, with a total value of $1,999,980.00. Following the completion of the transaction, the director now directly owns 1,574,568 shares in the company, valued at approximately $64,557,288. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John W. Childs bought 28,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of $35.58 per share, for a total transaction of $996,240.00. Following the acquisition, the director now owns 2,311,341 shares in the company, valued at approximately $82,237,512.78. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gregory Bailey purchased 48,780 shares of Biohaven stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average cost of $41.00 per share, for a total transaction of $1,999,980.00. Following the completion of the transaction, the director now directly owns 1,574,568 shares in the company, valued at approximately $64,557,288. The disclosure for this purchase can be found here. Insiders have bought a total of 252,734 shares of company stock worth $9,997,764 in the last three months. 16.00% of the stock is currently owned by company insiders.

Biohaven Price Performance

NYSE:BHVN traded up $0.10 during trading hours on Thursday, reaching $35.12. 843,600 shares of the company were exchanged, compared to its average volume of 1,276,824. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -5.14 and a beta of 1.21. The stock has a 50 day simple moving average of $36.61 and a 200 day simple moving average of $43.94. Biohaven Ltd. has a 52-week low of $16.45 and a 52-week high of $62.21.

Biohaven (NYSE:BHVN) last issued its earnings results on Thursday, May 9th. The company reported ($2.20) earnings per share for the quarter, missing the consensus estimate of ($1.50) by ($0.70). On average, analysts predict that Biohaven Ltd. will post -7.16 EPS for the current fiscal year.

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.