Infinitum Asset Management LLC Takes Position in Biohaven Ltd. (NYSE:BHVN)

Infinitum Asset Management LLC purchased a new stake in Biohaven Ltd. (NYSE:BHVN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 110,000 shares of the company's stock, valued at approximately $4,108,000. Biohaven makes up approximately 2.2% of Infinitum Asset Management LLC's investment portfolio, making the stock its 13th largest holding. Infinitum Asset Management LLC owned about 0.11% of Biohaven as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its stake in shares of Biohaven by 40.0% in the fourth quarter. Ameriprise Financial Inc. now owns 508,682 shares of the company's stock valued at $18,994,000 after buying an additional 145,331 shares during the period. Teacher Retirement System of Texas increased its position in Biohaven by 31.6% in the 4th quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company's stock valued at $871,000 after acquiring an additional 5,600 shares during the period. Bank of New York Mellon Corp increased its position in Biohaven by 9.1% in the 4th quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company's stock valued at $11,021,000 after acquiring an additional 24,703 shares during the period. American Century Companies Inc. raised its stake in shares of Biohaven by 9.5% during the fourth quarter. American Century Companies Inc. now owns 558,761 shares of the company's stock valued at $20,870,000 after acquiring an additional 48,286 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Biohaven by 6.6% during the fourth quarter. Alliancebernstein L.P. now owns 96,236 shares of the company's stock worth $3,594,000 after purchasing an additional 5,951 shares during the period. 88.78% of the stock is owned by institutional investors.

Biohaven Stock Down 2.4%

NYSE:BHVN traded down $0.36 during trading hours on Thursday, hitting $14.70. 3,032,187 shares of the company traded hands, compared to its average volume of 1,248,379. Biohaven Ltd. has a one year low of $14.51 and a one year high of $55.70. The company has a market cap of $1.50 billion, a PE ratio of -1.57 and a beta of 1.18. The firm's 50-day simple moving average is $20.18 and its 200-day simple moving average is $32.33.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($2.17) earnings per share for the quarter, missing the consensus estimate of ($1.67) by ($0.50). As a group, equities research analysts expect that Biohaven Ltd. will post -8.9 EPS for the current year.

Insider Transactions at Biohaven

In other Biohaven news, Director John W. Childs bought 32,700 shares of the stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.00% of the company's stock.

Wall Street Analyst Weigh In

BHVN has been the subject of a number of analyst reports. Royal Bank of Canada downgraded Biohaven from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $54.00 to $21.00 in a research report on Monday, May 19th. HC Wainwright restated a "buy" rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Cantor Fitzgerald raised shares of Biohaven to a "strong-buy" rating in a research note on Tuesday, May 13th. Robert W. Baird decreased their price objective on shares of Biohaven from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Monday, April 28th. Finally, William Blair upgraded shares of Biohaven to a "strong-buy" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $59.46.

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.