Biohaven Ltd. (NYSE:BHVN) Stake Boosted by Sphera Funds Management LTD.

Sphera Funds Management LTD. increased its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 17.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 156,494 shares of the company's stock after purchasing an additional 23,171 shares during the period. Sphera Funds Management LTD. owned 0.15% of Biohaven worth $5,845,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management bought a new position in Biohaven in the fourth quarter worth about $56,000. Amalgamated Bank lifted its holdings in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after acquiring an additional 527 shares during the last quarter. US Bancorp DE lifted its holdings in Biohaven by 36.7% in the fourth quarter. US Bancorp DE now owns 2,971 shares of the company's stock worth $111,000 after acquiring an additional 798 shares during the last quarter. Quarry LP bought a new position in Biohaven in the fourth quarter worth about $112,000. Finally, Lazard Asset Management LLC lifted its holdings in Biohaven by 47.4% in the fourth quarter. Lazard Asset Management LLC now owns 3,207 shares of the company's stock worth $119,000 after acquiring an additional 1,031 shares during the last quarter. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Biohaven Price Performance

Shares of NYSE BHVN traded down $0.27 during mid-day trading on Monday, reaching $15.75. 2,129,403 shares of the company traded hands, compared to its average volume of 1,216,983. Biohaven Ltd. has a fifty-two week low of $14.69 and a fifty-two week high of $55.70. The firm has a market cap of $1.61 billion, a PE ratio of -1.68 and a beta of 1.18. The stock has a fifty day simple moving average of $22.03 and a 200-day simple moving average of $33.85.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings data 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, analysts predict that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BHVN has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. 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. Morgan Stanley cut their price target on Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. William Blair raised Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. Finally, Robert W. Baird cut their price target on Biohaven from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Biohaven currently has an average rating of "Buy" and an average price target of $59.46.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 16.00% of the stock is currently owned by company insiders.

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.