On September 19, 2023, it was reported that Harbor Capital Advisors Inc. had purchased a new stake in Biohaven Ltd. during the second quarter of the year. According to their recent Form 13F filing with the Securities and Exchange Commission (SEC), the institutional investor acquired 24,189 shares of Biohaven’s stock, valued at approximately $579,000.
This news comes alongside other developments involving Biohaven. Director John W. Childs also made significant purchases of Biohaven’s stock recently. On August 30th, Childs bought 50,000 shares of the company’s stock at an average price of $18.44 per share, resulting in a total transaction value of $922,000. Following this purchase, Childs now owns 1,975,118 shares in Biohaven which are estimated to be worth around $36,421,175.92.
In another transaction on August 4th, Director John W. Childs purchased an additional 100,000 shares of Biohaven’s stock at an average cost of $19.78 per share for a total transaction value of $1,978,000. After this last purchase, he owns a total of 1,925,118 shares in the company with an approximate value of $38,078,834.04.
These transactions have been disclosed through filings with the SEC and can be accessed through their official website.
It is interesting to note that insiders now hold 12.40% of Biohaven’s stock which further emphasizes the confidence and belief they have in the company’s potential growth and future prospects.
Biohaven Ltd., listed on the New York Stock Exchange under the ticker symbol BHVN is a biopharmaceutical company focused on developing innovative therapies for neurological diseases and rare disorders such as Alzheimer’s disease and migraine headaches.
The acquisition of a new stake by Harbor Capital Advisors Inc., along with significant purchases made by Director John W. Childs, showcases the continued interest and support from institutional investors and insiders in Biohaven’s goals and potential for success.
Investors and industry enthusiasts will be closely monitoring Biohaven’s progress as more news develops regarding their research, development, and commercialization efforts. With the backing of significant institutional investments and insider purchases, Biohaven appears to be positioned for future growth and could become a key player in the biopharmaceutical industry.
Box, Inc.
BOX
Neutral
Updated on: 19/09/2023
Financial Health
Weak
Debt to equity ratio: Strong Sell
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Sell
DCF: Strong Buy
ROE: Neutral
Institutional Investors and Hedge Funds Show Growing Interest in Biohaven as Confidence in Future Growth Grows
In recent months, there have been notable shifts in the positions of institutional investors and hedge funds in relation to Biohaven (NYSE: BHVN). This has led to a significant degree of perplexity and bustiness in the market. One such investor, Allspring Global Investments Holdings LLC, made a bold move by purchasing a new position in Biohaven during the first quarter with a value of around $61,000. With such an investment, it is clear that Allspring sees potential in this biopharmaceutical company.
Notably, US Bancorp DE also increased its holdings in Biohaven by 19.1% during the first quarter. The bank now owns 586 shares of Biohaven’s stock worth $70,000 after acquiring an additional 94 shares during the period. This further demonstrates that there is growing interest from renowned financial institutions in this particular stock.
Furthermore, Federated Hermes Inc., boosted its holdings in Biohaven by an impressive 42.0% during the first quarter. The firm now owns 6,193 shares valued at approximately $85,000 after acquiring an additional 1,832 shares during the same period. Such significant increases in holdings indicate a vote of confidence from Federated Hermes Inc., suggesting that they believe in the company’s future growth prospects.
Another notable player joining this investment trend is FSC Wealth Advisors LLC. Their position grew by a staggering 293.9% during the first quarter as they acquired an additional 4,850 shares, bringing their total to 6,500 shares valued at $89,000. This level of increase showcases FSC Wealth Advisors’ strong belief in the potential for future gains through investing in Biohaven.
Adding to these noteworthy changes are Dark Forest Capital Management LP’s high net purchase of Biohaven shares – up by 65.2% since last quarter – which brings their total ownership to 7,161 shares valued at approximately $98,000. It is evident that Dark Forest Capital Management LP also recognizes the potentially lucrative prospects associated with investing in this biopharmaceutical frontrunner.
Notably, 89.60% of Biohaven’s stock is owned by institutional investors and hedge funds, creating a sense of trust and confidence in the company’s overall potential. These significant movements within top-tier financial institutions serve as a testament to Biohaven’s bright future.
Furthermore, various brokerages have weighed in on BHVN. JPMorgan Chase & Co., for instance, lowered their price target on Biohaven shares from $27.00 to $24.00 but maintained an “overweight” rating on the stock. This indicates that while there may be some concerns about the overall value of the stock, it still holds promise.
On the other hand, BTIG Research has raised its target price for Biohaven from $24.00 to $28.00, suggesting a more optimistic outlook for the company’s future performance in the market.
According to Bloomberg.com, six research analysts have provided a “buy” rating for Biohaven, painting a positive picture of its prospects and growth potential within the industry. It seems that consensus among these experts aligns with an average price target of $25.25 per share.
As trading begins today, Biohaven opened at a price of $18.28 on NYSE. Over the past twelve months, shares have reached a low point of $5.54 and a high point of $26.64 – showcasing sizeable fluctuations in value during this period.
At present, Biohaven boasts a market capitalization of approximately $1.25 billion and exhibits a price-to-earnings ratio (PE ratio) of -2.46 along with a beta value of 1.12 – factors that contribute to investors’ assessment of risks and rewards associated with holding this stock.
It is important to note that this niche biopharmaceutical company reported a disappointing earnings result at the end of July. With an EPS of ($1.32) for the quarter, Biohaven fell short of the consensus estimate of ($1.18) by ($0.14). However, it is important to recognize that analysts predict Biohaven to post earnings per share of -4.99 for the current fiscal year.
In summary, Biohaven has witnessed significant changes in its positions held by institutional investors and hedge funds. These shifts indicate growing interest and trust in the company’s potential growth prospects within the biopharmaceutical industry. While some brokerages have taken a cautious approach, others are more positive about Biohaven’s future trajectory – reinforcing a consensus “Buy” rating for the stock with a target price averaging $25.25 per share. As trading continues, investors will closely monitor how these developments unfold and impact both Biohaven and the broader market as a whole.
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