SeaBridge Investment Advisors LLC Sells 1,588 Shares of Biohaven Ltd. (NYSE:BHVN)

SeaBridge Investment Advisors LLC decreased its stake in shares of Biohaven Ltd. (NYSE:BHVN) by 4.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 38,507 shares of the company’s stock after selling 1,588 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Biohaven were worth $1,438,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. nVerses Capital LLC bought a new stake in Biohaven during the third quarter valued at about $50,000. Values First Advisors Inc. bought a new stake in Biohaven during the 3rd quarter valued at approximately $78,000. US Bancorp DE grew its holdings in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company’s stock valued at $109,000 after buying an additional 790 shares during the last quarter. KBC Group NV increased its position in Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company’s stock worth $112,000 after buying an additional 443 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company’s stock valued at $156,000 after acquiring an additional 500 shares during the period. 88.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on BHVN. Royal Bank of Canada restated an “outperform” rating and set a $61.00 price target (up from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. HC Wainwright restated a “buy” rating and issued a $59.00 target price on shares of Biohaven in a research note on Tuesday, December 17th. 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, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a research note on Tuesday, December 17th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $63.00.

Biohaven Stock Down 1.8 %

NYSE BHVN opened at $38.30 on Friday. Biohaven Ltd. has a 1-year low of $26.80 and a 1-year high of $62.21. The company has a 50 day moving average of $39.65 and a 200-day moving average of $42.49.

Biohaven (NYSE:BHVN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.67) by ($0.03). Sell-side analysts expect that Biohaven Ltd. will post -8.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director John W. Childs purchased 29,000 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average cost of $35.94 per share, with a total value of $1,042,260.00. Following the purchase, the director now directly owns 2,368,741 shares in the company, valued at $85,132,551.54. The trade was a 1.24 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 16.00% of the company’s stock.

Biohaven Company 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.