Geode Capital Management LLC Purchases 44,174 Shares of Biohaven Ltd. (NYSE:BHVN)

Geode Capital Management LLC lifted its stake in Biohaven Ltd. (NYSE:BHVN - Free Report) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,714,612 shares of the company's stock after purchasing an additional 44,174 shares during the quarter. Geode Capital Management LLC owned about 1.70% of Biohaven worth $85,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Biohaven during the 3rd quarter valued at about $50,000. Redwood Wealth Management Group LLC bought a new stake in shares of Biohaven during the second quarter valued at approximately $61,000. Values First Advisors Inc. purchased a new position in Biohaven in the 3rd quarter worth approximately $78,000. US Bancorp DE lifted its position 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 acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV boosted its stake in Biohaven by 24.5% during the 3rd 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. Hedge funds and other institutional investors own 88.78% of the company's stock.

Insider Buying and Selling

In other Biohaven news, Director Gregory Bailey purchased 5,000 shares of the company's stock in a transaction on Tuesday, September 24th. The stock was acquired at an average cost of $44.19 per share, for a total transaction of $220,950.00. Following the purchase, the director now directly owns 1,620,071 shares of the company's stock, valued at $71,590,937.49. This trade represents a 0.31 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Childs acquired 21,052 shares of Biohaven stock in a transaction dated Wednesday, October 2nd. The shares were bought at an average price of $47.50 per share, for a total transaction of $999,970.00. Following the transaction, the director now owns 21,052 shares of the company's stock, valued at approximately $999,970. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.00% of the stock is currently owned by insiders.

Biohaven Price Performance

Shares of NYSE:BHVN traded up $0.92 during midday trading on Friday, hitting $36.26. The company had a trading volume of 3,229,003 shares, compared to its average volume of 1,130,245. The company has a fifty day moving average of $47.56 and a two-hundred day moving average of $41.82. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -3.88 and a beta of 1.24. Biohaven Ltd. has a 12-month low of $26.80 and a 12-month high of $62.21.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BHVN shares. Bank of America boosted their price target on Biohaven from $52.00 to $62.00 and gave the stock a "buy" rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price on Biohaven from $55.00 to $68.00 and gave the stock an "overweight" rating in a research report on Thursday, October 3rd. Royal Bank of Canada restated an "outperform" rating and set a $61.00 target price (up previously from $58.00) on shares of Biohaven in a research note on Wednesday, December 4th. Robert W. Baird lifted their price target on shares of Biohaven from $58.00 to $60.00 and gave the stock an "outperform" rating in a research note on Monday, September 23rd. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a research report on Tuesday. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Biohaven currently has an average rating of "Buy" and a consensus price target of $63.00.

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.