Vanguard Group Inc. boosted its holdings in Biohaven Ltd. (NYSE:BHVN - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,414,120 shares of the company's stock after acquiring an additional 628,211 shares during the period. Vanguard Group Inc. owned 8.32% of Biohaven worth $314,267,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Biohaven by 563.4% in the third 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 purchasing an additional 431,954 shares during the period. Captrust Financial Advisors acquired a new position in Biohaven in the 3rd quarter valued at about $293,000. HighTower Advisors LLC bought a new position in Biohaven in the 3rd quarter valued at about $276,000. Parallax Volatility Advisers L.P. acquired a new stake in Biohaven during the third quarter worth approximately $258,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Biohaven by 745.9% during the third quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company's stock worth $74,969,000 after acquiring an additional 1,322,922 shares during the period. Institutional investors and hedge funds own 88.78% of the company's stock.
Insider Activity at Biohaven
In other news, Director John W. Childs acquired 32,700 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $30.47 per share, with a total value of $996,369.00. Following the acquisition, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. The trade was a 1.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 16.00% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research firms recently weighed in on BHVN. Cantor Fitzgerald reissued an "overweight" rating on shares of Biohaven in a report on Tuesday, December 17th. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a "buy" rating in a research note on Thursday, March 20th. Morgan Stanley dropped their price objective on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Finally, HC Wainwright restated a "buy" rating and set a $54.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $62.77.
View Our Latest Analysis on BHVN
Biohaven Stock Down 7.7 %
Shares of BHVN traded down $1.38 during midday trading on Tuesday, hitting $16.53. The company's stock had a trading volume of 1,708,587 shares, compared to its average volume of 1,108,910. Biohaven Ltd. has a one year low of $16.36 and a one year high of $55.70. The company's fifty day simple moving average is $32.10 and its two-hundred day simple moving average is $40.33. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -1.77 and a beta of 1.33.
Biohaven (NYSE:BHVN - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29). On average, research analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.
Biohaven Profile
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Free Report)
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.
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