Federated Hermes Inc. Invests $424,000 in Biohaven Ltd. (NYSE:BHVN)

Federated Hermes Inc. bought a new position in Biohaven Ltd. (NYSE:BHVN) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 9,898 shares of the company’s stock, valued at approximately $424,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BHVN. Public Employees Retirement System of Ohio purchased a new position in shares of Biohaven in the 3rd quarter worth approximately $236,000. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Biohaven in the 3rd quarter worth approximately $267,000. Constitution Capital LLC purchased a new position in shares of Biohaven in the 4th quarter worth approximately $300,000. Raymond James Financial Services Advisors Inc. purchased a new position in Biohaven during the 4th quarter valued at $363,000. Finally, Teacher Retirement System of Texas boosted its holdings in Biohaven by 4.7% during the 3rd quarter. Teacher Retirement System of Texas now owns 16,486 shares of the company’s stock valued at $429,000 after acquiring an additional 746 shares during the period. Hedge funds and other institutional investors own 88.78% of the company’s stock.

Biohaven Trading Up 2.0 %

BHVN opened at $40.69 on Friday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -7.19 and a beta of 1.26. Biohaven Ltd. has a 12 month low of $13.03 and a 12 month high of $62.21. The stock has a fifty day moving average price of $50.13 and a 200-day moving average price of $42.31.

Biohaven (NYSE:BHVN) last released its quarterly earnings results on Thursday, February 29th. The company reported ($1.81) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.40). On average, equities research analysts forecast that Biohaven Ltd. will post -5.79 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BHVN shares. UBS Group boosted their price objective on Biohaven from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. TD Cowen boosted their price objective on Biohaven from $35.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, March 1st. HC Wainwright boosted their price objective on Biohaven from $50.00 to $63.00 and gave the company a “buy” rating in a report on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on Biohaven from $32.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Biohaven in a report on Thursday, April 18th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $52.13.

Insider Transactions at Biohaven

In related news, Director Gregory Bailey purchased 25,503 shares of Biohaven stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average cost of $39.18 per share, with a total value of $999,207.54. Following the transaction, the director now owns 1,600,071 shares in the company, valued at approximately $62,690,781.78. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other Biohaven news, CEO Vlad Coric bought 121,951 shares of Biohaven stock in a transaction that occurred on Monday, April 22nd. The shares were bought at an average cost of $41.00 per share, with a total value of $4,999,991.00. Following the transaction, the chief executive officer now directly owns 1,788,417 shares of the company’s stock, valued at approximately $73,325,097. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Bailey bought 25,503 shares of Biohaven stock in a transaction that occurred on Wednesday, April 24th. The shares were acquired at an average cost of $39.18 per share, for a total transaction of $999,207.54. Following the completion of the transaction, the director now directly owns 1,600,071 shares in the company, valued at $62,690,781.78. The disclosure for this purchase can be found here. In the last three months, insiders purchased 196,234 shares of company stock valued at $7,999,179. Corporate insiders own 16.00% of the company’s stock.

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.