Federated Hermes Inc. Sells 8,869 Shares of Biohaven Ltd. (NYSE:BHVN)

Federated Hermes Inc. lessened its holdings in shares of Biohaven Ltd. (NYSE:BHVN) by 41.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,753 shares of the company’s stock after selling 8,869 shares during the period. Federated Hermes Inc.’s holdings in Biohaven were worth $476,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. HighTower Advisors LLC boosted its stake in shares of Biohaven by 6.1% in the 4th quarter. HighTower Advisors LLC now owns 5,870 shares of the company’s stock valued at $219,000 after purchasing an additional 335 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Biohaven by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 79,705 shares of the company’s stock worth $4,206,000 after acquiring an additional 412 shares in the last quarter. FSC Wealth Advisors LLC boosted its position in shares of Biohaven by 3.3% during the 4th quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company’s stock valued at $579,000 after purchasing an additional 500 shares in the last quarter. Prudential Financial Inc. grew its stake in Biohaven by 9.4% during the fourth quarter. Prudential Financial Inc. now owns 5,980 shares of the company’s stock worth $223,000 after purchasing an additional 514 shares during the period. Finally, Amalgamated Bank lifted its stake in Biohaven by 21.9% in the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company’s stock valued at $109,000 after buying an additional 527 shares during the period. Institutional investors own 88.78% of the company’s stock.

Insider Buying and Selling

In other news, Director John W. Childs acquired 32,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the purchase, the director now 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.00% of the stock is owned by insiders.

Biohaven Stock Performance

NYSE:BHVN opened at $20.41 on Friday. Biohaven Ltd. has a 52 week low of $15.79 and a 52 week high of $55.70. The firm has a 50-day moving average price of $28.88 and a two-hundred day moving average price of $38.78. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -2.18 and a beta of 1.33.

Biohaven (NYSE:BHVN) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.29). As a group, sell-side analysts forecast that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BHVN shares. HC Wainwright reiterated a “buy” rating and set a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. JPMorgan Chase & Co. decreased their target price on Biohaven from $72.00 to $68.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Morgan Stanley cut their price target on Biohaven from $69.00 to $63.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 target price on Biohaven and gave the stock a “buy” rating in a research report on Thursday, March 20th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Biohaven currently has a consensus rating of “Buy” and an average target price of $62.77.

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.