Elkhorn Partners Limited Partnership Purchases New Position in Biohaven Ltd. (NYSE:BHVN)

Elkhorn Partners Limited Partnership acquired a new stake in Biohaven Ltd. (NYSE:BHVN) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,600 shares of the company’s stock, valued at approximately $125,000. Biohaven makes up 0.1% of Elkhorn Partners Limited Partnership’s holdings, making the stock its 26th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perceptive Advisors LLC increased its position in shares of Biohaven by 129.4% in the fourth quarter. Perceptive Advisors LLC now owns 1,725,047 shares of the company’s stock valued at $73,832,000 after buying an additional 973,227 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Biohaven by 20.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,904 shares of the company’s stock worth $22,209,000 after acquiring an additional 86,890 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Biohaven by 280.5% in the first quarter. Vanguard Group Inc. now owns 6,308,853 shares of the company’s stock worth $345,031,000 after acquiring an additional 4,650,702 shares during the last quarter. CWM LLC boosted its stake in shares of Biohaven by 1,893.4% in the second quarter. CWM LLC now owns 14,552 shares of the company’s stock worth $505,000 after acquiring an additional 13,822 shares during the last quarter. Finally, Oak Ridge Investments LLC boosted its stake in shares of Biohaven by 197.6% in the second quarter. Oak Ridge Investments LLC now owns 22,000 shares of the company’s stock worth $764,000 after acquiring an additional 14,607 shares during the last quarter. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Biohaven Stock Down 0.0 %

Shares of Biohaven stock opened at $39.01 on Wednesday. Biohaven Ltd. has a 52 week low of $16.45 and a 52 week high of $62.21. The business’s fifty day simple moving average is $38.12 and its 200-day simple moving average is $41.27. The firm has a market cap of $3.44 billion, a PE ratio of -5.71 and a beta of 1.30.

Biohaven (NYSE:BHVN) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($3.64) EPS for the quarter, missing the consensus estimate of ($1.72) by ($1.92). As a group, equities analysts expect that Biohaven Ltd. will post -8.92 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and issued a $59.00 price target on shares of Biohaven in a research note on Thursday, May 30th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Biohaven in a research note on Monday, August 19th. Jefferies Financial Group assumed coverage on Biohaven in a research note on Monday. They issued a “buy” rating and a $57.00 price target on the stock. Morgan Stanley started coverage on Biohaven in a research note on Wednesday, July 24th. They issued an “overweight” rating and a $58.00 price target on the stock. Finally, Sanford C. Bernstein started coverage on Biohaven in a research note on Wednesday, September 4th. They set an “outperform” rating and a $55.00 price objective on the stock. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $54.70.

Insider Activity at Biohaven

In other news, Director John W. Childs acquired 28,400 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average price of $35.67 per share, for a total transaction of $1,013,028.00. Following the acquisition, the director now owns 2,339,741 shares of the company’s stock, valued at $83,458,561.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 16.00% of the company’s stock.

Biohaven 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.