Geode Capital Management LLC Increases Stock Position in Biohaven Ltd. (NYSE:BHVN)

Geode Capital Management LLC lifted its holdings in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,905,366 shares of the company's stock after purchasing an additional 190,754 shares during the quarter. Geode Capital Management LLC owned about 1.88% of Biohaven worth $71,182,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas raised its stake in shares of Biohaven by 31.6% in the 4th quarter. Teacher Retirement System of Texas now owns 23,320 shares of the company's stock valued at $871,000 after acquiring an additional 5,600 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Biohaven by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 295,078 shares of the company's stock worth $11,021,000 after buying an additional 24,703 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Biohaven by 85.4% in the third quarter. JPMorgan Chase & Co. now owns 809,448 shares of the company's stock valued at $40,448,000 after buying an additional 372,737 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Biohaven by 9.5% in the 4th quarter. American Century Companies Inc. now owns 558,761 shares of the company's stock valued at $20,870,000 after buying an additional 48,286 shares during the period. Finally, US Bancorp DE lifted its stake in Biohaven by 36.7% during the 4th quarter. US Bancorp DE now owns 2,971 shares of the company's stock worth $111,000 after acquiring an additional 798 shares in the last quarter. 88.78% of the stock is owned by institutional investors and hedge funds.

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Biohaven Stock Performance

NYSE BHVN traded up $0.05 during trading on Tuesday, reaching $18.56. The company's stock had a trading volume of 1,127,581 shares, compared to its average volume of 1,127,227. The business's fifty day moving average price is $30.03 and its 200-day moving average price is $39.27. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -1.99 and a beta of 1.33. Biohaven Ltd. has a twelve month low of $15.79 and a twelve month high of $55.70.

Biohaven (NYSE:BHVN - Get Free Report) last posted its quarterly 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). As a group, sell-side analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Analyst Ratings Changes

BHVN has been the topic of several research reports. HC Wainwright reissued a "buy" rating and set a $54.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Biohaven in a research note on Tuesday, December 17th. Royal Bank of Canada restated an "outperform" rating and set a $61.00 price target on shares of Biohaven in a report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price objective on Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Finally, Morgan Stanley lowered their price target 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. Fourteen research 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.com, the stock presently has an average rating of "Buy" and a consensus price target of $62.77.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction dated Tuesday, March 4th. The shares were acquired 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 directly owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. The trade was a 1.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 16.00% of the stock is owned by corporate insiders.

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.