Clearbridge Investments LLC Increases Stake in Biohaven Ltd. (NYSE:BHVN)

Clearbridge Investments LLC grew its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 521,099 shares of the company's stock after acquiring an additional 41,850 shares during the period. Clearbridge Investments LLC owned about 0.52% of Biohaven worth $19,463,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Spire Wealth Management acquired a new stake in Biohaven in the 4th quarter valued at $56,000. Amalgamated Bank lifted its holdings in Biohaven by 21.9% during the fourth quarter. Amalgamated Bank now owns 2,929 shares of the company's stock valued at $109,000 after purchasing an additional 527 shares in the last quarter. US Bancorp DE grew its position in shares of Biohaven by 36.7% in the fourth quarter. US Bancorp DE now owns 2,971 shares of the company's stock valued at $111,000 after purchasing an additional 798 shares during the period. KBC Group NV grew its position in shares of Biohaven by 50.1% in the fourth quarter. KBC Group NV now owns 3,377 shares of the company's stock valued at $126,000 after purchasing an additional 1,127 shares during the period. Finally, Parallax Volatility Advisers L.P. purchased a new stake in shares of Biohaven during the third quarter worth about $258,000. 88.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biohaven in a research note on Tuesday, December 17th. JPMorgan Chase & Co. dropped 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. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the company a "buy" rating in a report on Thursday, March 20th. Finally, Morgan Stanley lowered their target price on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $62.77.

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Insider Buying and Selling

In related news, Director John W. Childs bought 32,700 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.00% of the stock is currently owned by company insiders.

Biohaven Price Performance

Shares of BHVN traded down $0.73 during mid-day trading on Monday, reaching $17.86. The stock had a trading volume of 2,203,986 shares, compared to its average volume of 1,105,427. The business's fifty day moving average is $32.95 and its 200 day moving average is $40.66. Biohaven Ltd. has a 52-week low of $16.90 and a 52-week high of $55.70. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -1.91 and a beta of 1.33.

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). As a group, sell-side analysts anticipate that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

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.