Sphera Funds Management LTD. Invests $6.66 Million in Biohaven Ltd. (NYSE:BHVN)

Sphera Funds Management LTD. bought a new stake in shares of Biohaven Ltd. (NYSE:BHVN) in the third quarter, Holdings Channel reports. The fund bought 133,323 shares of the company’s stock, valued at approximately $6,662,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. nVerses Capital LLC bought a new position in shares of Biohaven during the third quarter valued at approximately $50,000. Values First Advisors Inc. bought a new stake in shares of Biohaven during the third quarter valued at approximately $78,000. Redwood Wealth Management Group LLC bought a new stake in shares of Biohaven during the second quarter valued at approximately $61,000. US Bancorp DE increased its position in shares of Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Biohaven by 24.5% in the third quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after purchasing an additional 443 shares during the last quarter. Institutional investors own 88.78% of the company’s stock.

Biohaven Trading Up 5.4 %

NYSE BHVN opened at $46.06 on Thursday. The firm’s 50 day moving average price is $49.65 and its 200-day moving average price is $41.55. Biohaven Ltd. has a 52-week low of $26.80 and a 52-week high of $62.21.

Biohaven (NYSE:BHVN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.67) by ($0.03). As a group, research analysts expect that Biohaven Ltd. will post -8.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Biohaven

In related news, Director Gregory Bailey purchased 5,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was acquired at an average price of $44.19 per share, with a total value of $220,950.00. Following the completion of the acquisition, the director now owns 1,620,071 shares in the company, valued at approximately $71,590,937.49. This represents a 0.31 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John W. Childs purchased 21,052 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was bought at an average cost of $47.50 per share, with a total value of $999,970.00. Following the acquisition, the director now owns 21,052 shares of the company’s stock, valued at approximately $999,970. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 16.00% of the stock is owned by insiders.

Analyst Ratings Changes

BHVN has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Biohaven in a report on Monday, September 16th. They issued a “buy” rating and a $57.00 target price on the stock. Piper Sandler lifted their price target on shares of Biohaven from $66.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on shares of Biohaven from $55.00 to $68.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. TD Cowen lifted their price target on shares of Biohaven from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Bank of America lifted their price target on shares of Biohaven from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Thirteen 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 MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $63.00.

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.