JPMorgan Chase & Co. Increases Stock Position in Biohaven Ltd. (NYSE:BHVN)

JPMorgan Chase & Co. increased its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 85.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 809,448 shares of the company's stock after purchasing an additional 372,737 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.80% of Biohaven worth $40,448,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BHVN. nVerses Capital LLC acquired a new position in shares of Biohaven during the third quarter worth about $50,000. Values First Advisors Inc. acquired a new stake in shares of Biohaven during the 3rd quarter worth about $78,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Biohaven during the 2nd quarter worth about $61,000. US Bancorp DE grew its stake in Biohaven by 57.1% in the 3rd quarter. US Bancorp DE now owns 2,173 shares of the company's stock valued at $109,000 after buying an additional 790 shares during the last quarter. Finally, KBC Group NV raised its holdings in Biohaven by 24.5% in the 3rd quarter. KBC Group NV now owns 2,250 shares of the company's stock valued at $112,000 after acquiring an additional 443 shares during the period. Institutional investors and hedge funds own 88.78% of the company's stock.

Biohaven Stock Performance

NYSE BHVN traded up $0.17 on Monday, hitting $38.81. The stock had a trading volume of 1,382,795 shares, compared to its average volume of 1,036,876. The firm has a 50-day moving average of $44.12 and a 200-day moving average of $42.15. Biohaven Ltd. has a 52-week low of $26.80 and a 52-week high of $62.21. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -4.15 and a beta of 1.29.

Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($1.70) EPS for the quarter, missing analysts' consensus estimates of ($1.67) by ($0.03). As a group, research analysts anticipate that Biohaven Ltd. will post -8.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on BHVN. JPMorgan Chase & Co. upped their target price on Biohaven from $55.00 to $68.00 and gave the company an "overweight" rating in a research report on Thursday, October 3rd. Sanford C. Bernstein increased their price objective on Biohaven from $55.00 to $66.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 24th. Piper Sandler boosted their target price on shares of Biohaven from $66.00 to $76.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd. Leerink Partners raised their price target on shares of Biohaven from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Monday, September 23rd. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Biohaven in a report on Tuesday, December 17th. Thirteen 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 has an average rating of "Buy" and a consensus target price of $63.00.

Insider Activity

In related news, Director John W. Childs bought 29,000 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $35.94 per share, with a total value of $1,042,260.00. Following the purchase, the director now owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. The trade was a 1.24 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 16.00% of the stock is owned by corporate insiders.

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.