Bank of New York Mellon Corp Acquires 24,703 Shares of Biohaven Ltd. (NYSE:BHVN)

Bank of New York Mellon Corp raised its holdings in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 295,078 shares of the company's stock after acquiring an additional 24,703 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.29% of Biohaven worth $11,021,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Spire Wealth Management acquired a new stake in shares of Biohaven during the 4th quarter valued at $56,000. US Bancorp DE raised its holdings in shares of Biohaven by 57.1% during the third quarter. US Bancorp DE now owns 2,173 shares of the company's stock worth $109,000 after acquiring an additional 790 shares in the last quarter. KBC Group NV boosted its position in Biohaven by 24.5% during the third quarter. KBC Group NV now owns 2,250 shares of the company's stock valued at $112,000 after purchasing an additional 443 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Biohaven by 19.1% in the third quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company's stock valued at $156,000 after purchasing an additional 500 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Biohaven in the 3rd quarter worth about $250,000. Institutional investors and hedge funds own 88.78% of the company's stock.

Biohaven Trading Up 2.0 %

Shares of Biohaven stock traded up $0.58 during mid-day trading on Monday, reaching $29.73. 738,537 shares of the stock were exchanged, compared to its average volume of 1,072,607. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -3.18 and a beta of 1.27. Biohaven Ltd. has a fifty-two week low of $26.80 and a fifty-two week high of $60.46. The firm has a 50-day simple moving average of $36.87 and a 200 day simple moving average of $42.01.

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Biohaven (NYSE:BHVN - Get Free Report) last announced its earnings results on Monday, March 3rd. The company reported ($1.85) EPS 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 EPS for the current fiscal year.

Insider Buying and Selling

In other 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 cost 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 of the company's stock, valued at approximately $85,132,551.54. This represents a 1.24 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 16.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on BHVN. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price target on shares of Biohaven in a research note on Tuesday, March 4th. Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a research note on Tuesday, December 17th. HC Wainwright restated a "buy" rating and set a $54.00 price target on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley decreased their price objective on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. reduced their price target on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $63.15.

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.