TrinityPoint Wealth LLC Buys Shares of 37,095 Biohaven Ltd. (NYSE:BHVN)

TrinityPoint Wealth LLC acquired a new stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 37,095 shares of the company's stock, valued at approximately $1,385,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management purchased a new stake in shares of Biohaven in the fourth quarter valued at approximately $56,000. Amalgamated Bank lifted its position in Biohaven by 21.9% during 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. US Bancorp DE boosted its holdings in shares of Biohaven by 36.7% in the 4th quarter. US Bancorp DE now owns 2,971 shares of the company's stock valued at $111,000 after acquiring an additional 798 shares during the last quarter. Quarry LP purchased a new stake in shares of Biohaven in the fourth quarter worth about $112,000. Finally, Lazard Asset Management LLC grew its position in Biohaven by 47.4% during the fourth quarter. Lazard Asset Management LLC now owns 3,207 shares of the company's stock valued at $119,000 after buying an additional 1,031 shares during the period. Institutional investors own 88.78% of the company's stock.

Insider Buying and Selling

In other Biohaven news, Director John W. Childs purchased 32,700 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price 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 in the company, valued at approximately $70,707,798.37. This trade represents a 1.43% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 16.00% of the stock is currently owned by company insiders.

Biohaven Stock Up 1.6%

Biohaven stock traded up $0.24 during midday trading on Friday, reaching $15.67. The company's stock had a trading volume of 930,156 shares, compared to its average volume of 1,231,850. The business has a 50-day simple moving average of $21.24 and a 200-day simple moving average of $33.36. The company has a market cap of $1.60 billion, a P/E ratio of -1.67 and a beta of 1.18. Biohaven Ltd. has a fifty-two week low of $14.69 and a fifty-two week high of $55.70.

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

Wall Street Analysts Forecast Growth

BHVN has been the subject of several research analyst reports. JPMorgan Chase & Co. reduced their target price on 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 target price on Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. Cantor Fitzgerald raised shares of Biohaven to a "strong-buy" rating in a research report on Tuesday, May 13th. Morgan Stanley decreased their target price on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Finally, Royal Bank of Canada lowered Biohaven from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from $54.00 to $21.00 in a research report on Monday. 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 stock has a consensus rating of "Buy" and an average price target of $59.46.

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.