Swiss National Bank Grows Stock Holdings in Biohaven Ltd. (NYSE:BHVN)

Swiss National Bank raised its stake in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,800 shares of the company's stock after buying an additional 16,800 shares during the quarter. Swiss National Bank owned about 0.15% of Biohaven worth $5,782,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in shares of Biohaven by 6.1% in the fourth quarter. HighTower Advisors LLC now owns 5,870 shares of the company's stock worth $219,000 after purchasing an additional 335 shares during the last quarter. Franklin Resources Inc. raised its position in Biohaven by 0.5% in the 3rd quarter. Franklin Resources Inc. now owns 79,705 shares of the company's stock worth $4,206,000 after buying an additional 412 shares during the last quarter. FSC Wealth Advisors LLC raised its position in Biohaven by 3.3% in the 4th quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company's stock worth $579,000 after buying an additional 500 shares during the last quarter. Amalgamated Bank lifted its stake in Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company's stock valued at $109,000 after acquiring an additional 527 shares during the period. Finally, E Fund Management Co. Ltd. boosted its holdings in shares of Biohaven by 8.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 9,613 shares of the company's stock valued at $359,000 after acquiring an additional 775 shares during the last quarter. 88.78% of the stock is owned by institutional investors.

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Biohaven Price Performance

Shares of NYSE BHVN traded down $1.18 during mid-day trading on Tuesday, reaching $29.86. The company's stock had a trading volume of 360,933 shares, compared to its average volume of 968,856. Biohaven Ltd. has a 52 week low of $26.80 and a 52 week high of $59.53. The stock has a fifty day moving average of $35.76 and a two-hundred day moving average of $41.61. The firm has a market capitalization of $3.05 billion, a PE ratio of -3.19 and a beta of 1.27.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly earnings results 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). Analysts anticipate 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 32,700 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the transaction, the director now owns 2,320,571 shares of the company's stock, valued at approximately $70,707,798.37. This represents a 1.43 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 16.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BHVN. HC Wainwright restated a "buy" rating and set a $54.00 price objective on shares of Biohaven in a research report on Tuesday, March 4th. Morgan Stanley dropped their price target on Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Biohaven in a research report on Tuesday, February 11th. They set a "buy" rating and a $65.00 price objective for the company. 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. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biohaven in a research report on Tuesday, December 17th. Fourteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $63.15.

Biohaven 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.