MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 13,147 Shares of Biohaven Ltd. (NYSE:BHVN)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 32.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,271 shares of the company’s stock after purchasing an additional 13,147 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of Biohaven worth $2,019,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Spire Wealth Management purchased a new stake in shares of Biohaven during the 4th quarter valued at $56,000. Amalgamated Bank increased its holdings in 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 last quarter. US Bancorp DE increased its holdings in Biohaven by 36.7% in the 4th 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 purchased a new stake in Biohaven in the 4th quarter worth about $112,000. Finally, Lazard Asset Management LLC increased its holdings in Biohaven by 47.4% in the 4th 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 owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada lowered Biohaven from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $54.00 to $21.00 in a report on Monday. Robert W. Baird decreased their price objective on Biohaven from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Cantor Fitzgerald raised Biohaven to a “strong-buy” rating in a report on Tuesday, May 13th. HC Wainwright reissued a “buy” rating and issued a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Finally, Morgan Stanley decreased their price objective on Biohaven from $69.00 to $63.00 and set an “overweight” rating for the company in a report on Friday, March 7th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $59.46.

Insider Activity

In other news, Director John W. Childs bought 32,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the transaction, the director now directly owns 2,320,571 shares of the company’s stock, valued at $70,707,798.37. This represents a 1.43% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 16.00% of the company’s stock.

Biohaven Trading Down 3.2%

Shares of BHVN opened at $15.74 on Thursday. The company has a market cap of $1.61 billion, a PE ratio of -1.68 and a beta of 1.18. The stock has a 50-day moving average price of $21.52 and a 200-day moving average price of $33.60. Biohaven Ltd. has a 12-month low of $14.69 and a 12-month high of $55.70.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Monday, May 12th. The company reported ($2.17) earnings per share (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 earnings per share for the current year.

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.