Boone Capital Management LLC Takes $13.50 Million Position in Biohaven Ltd. (NYSE:BHVN)

Boone Capital Management LLC purchased a new position in Biohaven Ltd. (NYSE:BHVN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 361,420 shares of the company's stock, valued at approximately $13,499,000. Biohaven comprises about 4.6% of Boone Capital Management LLC's holdings, making the stock its 9th biggest position. Boone Capital Management LLC owned 0.36% of Biohaven at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in shares of Biohaven by 6.1% during the 4th quarter. HighTower Advisors LLC now owns 5,870 shares of the company's stock valued at $219,000 after buying an additional 335 shares during the last quarter. Franklin Resources Inc. raised its stake 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 acquiring an additional 412 shares during the period. FSC Wealth Advisors LLC lifted its holdings 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 purchasing an additional 500 shares during the last quarter. Prudential Financial Inc. boosted its position in Biohaven by 9.4% during 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 during the period. Finally, Amalgamated Bank increased its stake in shares of Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock worth $109,000 after purchasing an additional 527 shares in the last quarter. Institutional investors own 88.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BHVN shares. 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. cut their price target on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Royal Bank of Canada reiterated an "outperform" rating and set a $61.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. Robert W. Baird cut their target price on Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Monday, April 28th. Finally, Morgan Stanley reduced their target price on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Biohaven presently has a consensus rating of "Buy" and an average price target of $62.54.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs bought 32,700 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $30.47 per share, with a total value of $996,369.00. Following the completion of the purchase, the director now directly owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. This trade represents a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 16.00% of the stock is owned by insiders.

Biohaven Price Performance

Shares of BHVN opened at $22.59 on Tuesday. Biohaven Ltd. has a 1-year low of $15.79 and a 1-year high of $55.70. The company has a market capitalization of $2.31 billion, a P/E ratio of -2.42 and a beta of 1.18. The firm's 50 day simple moving average is $24.61 and its 200 day simple moving average is $36.15.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data 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). On average, equities analysts anticipate that Biohaven Ltd. will post -8.9 earnings per share for the current 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.

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