Emerald Mutual Fund Advisers Trust Invests $8.46 Million in Biohaven Ltd. (NYSE:BHVN)

Emerald Mutual Fund Advisers Trust purchased a new position in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 226,394 shares of the company's stock, valued at approximately $8,456,000. Emerald Mutual Fund Advisers Trust owned about 0.22% of Biohaven at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Spire Wealth Management bought a new stake in shares of Biohaven in the 4th quarter valued at about $56,000. Amalgamated Bank boosted its holdings in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock valued at $109,000 after acquiring an additional 527 shares during the last quarter. US Bancorp DE increased its position in Biohaven by 36.7% during the 4th quarter. US Bancorp DE now owns 2,971 shares of the company's stock valued at $111,000 after purchasing an additional 798 shares during the period. Quarry LP bought a new position in Biohaven during the 4th quarter worth approximately $112,000. Finally, Elkhorn Partners Limited Partnership lifted its position in shares of Biohaven by 50.0% in the 4th quarter. Elkhorn Partners Limited Partnership now owns 3,300 shares of the company's stock worth $123,000 after purchasing an additional 1,100 shares during the period. Institutional investors and hedge funds own 88.78% of the company's stock.

Insider Transactions at Biohaven

In other news, Director John W. Childs acquired 32,700 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the purchase, the director now owns 2,320,571 shares in the company, valued at approximately $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 16.00% of the company's stock.

Biohaven Price Performance

Shares of NYSE BHVN traded up $0.31 during trading on Friday, hitting $22.76. The stock had a trading volume of 2,101,533 shares, compared to its average volume of 1,155,605. The firm has a fifty day moving average of $24.91 and a two-hundred day moving average of $36.58. Biohaven Ltd. has a 12 month low of $15.79 and a 12 month high of $55.70. The company has a market capitalization of $2.32 billion, a PE ratio of -2.43 and a beta of 1.33.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.29). On average, equities analysts expect that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BHVN shares. JPMorgan Chase & Co. lowered their target price on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. William Blair upgraded Biohaven to a "strong-buy" rating in a research report on Thursday, April 24th. HC Wainwright reiterated a "buy" rating and issued a $54.00 target price on shares of Biohaven in a report on Tuesday, March 4th. Robert W. Baird dropped their price target on Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Monday. Finally, Morgan Stanley reduced their price objective on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research report on Friday, March 7th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $62.54.

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.