Altium Capital Management LLC Buys 175,000 Shares of Biohaven Ltd. (NYSE:BHVN)

Altium Capital Management LLC raised its holdings in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 233.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,000 shares of the company's stock after buying an additional 175,000 shares during the period. Biohaven comprises 2.6% of Altium Capital Management LLC's investment portfolio, making the stock its 13th largest position. Altium Capital Management LLC owned 0.25% of Biohaven worth $9,338,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. HighTower Advisors LLC raised its position in shares of Biohaven by 6.1% in the 4th quarter. HighTower Advisors LLC now owns 5,870 shares of the company's stock valued at $219,000 after purchasing an additional 335 shares in the last quarter. Franklin Resources Inc. lifted its position in Biohaven by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 79,705 shares of the company's stock valued at $4,206,000 after purchasing an additional 412 shares during the last quarter. FSC Wealth Advisors LLC boosted its position in shares of Biohaven by 3.3% during the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company's stock worth $579,000 after buying an additional 500 shares during the period. Prudential Financial Inc. grew its stake in shares of Biohaven by 9.4% in the fourth quarter. Prudential Financial Inc. now owns 5,980 shares of the company's stock worth $223,000 after purchasing an additional 514 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Biohaven by 21.9% in the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after acquiring an additional 527 shares during the period. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John W. Childs purchased 32,700 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares of the company's stock, valued at approximately $70,707,798.37. This trade represents a 1.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 16.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BHVN shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. HC Wainwright reiterated a "buy" rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. JPMorgan Chase & Co. decreased 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. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. Finally, Morgan Stanley cut their price target on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $62.77.

Biohaven Price Performance

Shares of BHVN traded up $0.90 on Wednesday, reaching $22.05. 977,832 shares of the stock traded hands, compared to its average volume of 1,107,959. Biohaven Ltd. has a 12 month low of $15.79 and a 12 month high of $55.70. The stock's 50-day moving average price is $27.59 and its 200-day moving average price is $38.15. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -2.36 and a beta of 1.33.

Biohaven (NYSE:BHVN - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29). As a group, equities research analysts forecast that Biohaven Ltd. will post -8.9 earnings per share for the current fiscal year.

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.