Bryce Point Capital LLC Acquires New Shares in Biohaven Ltd. (NYSE:BHVN)

Bryce Point Capital LLC acquired a new position in Biohaven Ltd. (NYSE:BHVN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 32,000 shares of the company's stock, valued at approximately $1,195,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BHVN. Point72 Asset Management L.P. raised its position in Biohaven by 745.9% during the third quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company's stock valued at $74,969,000 after buying an additional 1,322,922 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Biohaven by 144.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company's stock worth $73,922,000 after purchasing an additional 1,169,721 shares during the period. Norges Bank purchased a new position in Biohaven during the fourth quarter valued at approximately $33,711,000. Vanguard Group Inc. lifted its position in Biohaven by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock worth $314,267,000 after buying an additional 628,211 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Biohaven by 563.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company's stock valued at $25,416,000 after buying an additional 431,954 shares during the period. 88.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BHVN has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. HC Wainwright reaffirmed a "buy" rating and set a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a research note on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price objective on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $61.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Biohaven currently has an average rating of "Buy" and a consensus target price of $62.77.

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Biohaven Trading Down 0.7 %

NYSE BHVN traded down $0.13 on Tuesday, hitting $17.78. 515,431 shares of the company were exchanged, compared to its average volume of 1,103,221. Biohaven Ltd. has a 1-year low of $16.90 and a 1-year high of $55.70. The firm has a 50 day moving average of $32.95 and a two-hundred day moving average of $40.66. The company has a market cap of $1.81 billion, a P/E ratio of -1.91 and a beta of 1.33.

Biohaven (NYSE:BHVN - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29). Research analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Insider Activity

In related news, Director John W. Childs bought 32,700 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average price of $30.47 per share, with a total value of $996,369.00. Following the completion of the purchase, the director now owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. This represents a 1.43 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.