JPMorgan Chase & Co. Buys 1,169,721 Shares of Biohaven Ltd. (NYSE:BHVN)

JPMorgan Chase & Co. increased its holdings in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 144.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,979,169 shares of the company's stock after purchasing an additional 1,169,721 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.96% of Biohaven worth $73,922,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Biohaven by 563.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 508,622 shares of the company's stock worth $25,416,000 after buying an additional 431,954 shares during the last quarter. Captrust Financial Advisors bought a new stake in Biohaven during the third quarter worth about $293,000. HighTower Advisors LLC acquired a new position in Biohaven during the third quarter valued at approximately $276,000. Parallax Volatility Advisers L.P. bought a new position in Biohaven in the third quarter valued at approximately $258,000. Finally, Point72 Asset Management L.P. grew its stake in Biohaven by 745.9% in the third quarter. Point72 Asset Management L.P. now owns 1,500,284 shares of the company's stock valued at $74,969,000 after purchasing an additional 1,322,922 shares in the last quarter. Institutional investors own 88.78% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on BHVN shares. Cantor Fitzgerald reissued an "overweight" rating on shares of Biohaven in a research note on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft set a $60.00 price target on shares of Biohaven and gave the company a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. lowered their price objective on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Royal Bank of Canada reiterated an "outperform" rating and issued a $61.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. Finally, HC Wainwright restated a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. Fourteen research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Biohaven currently has a consensus rating of "Buy" and a consensus price target of $62.77.

Remove Ads

Biohaven Trading Down 7.7 %

BHVN stock traded down $1.38 during trading hours on Tuesday, hitting $16.53. 1,708,587 shares of the stock were exchanged, compared to its average volume of 1,108,910. Biohaven Ltd. has a 12 month low of $16.36 and a 12 month high of $55.70. The firm has a market capitalization of $1.69 billion, a P/E ratio of -1.77 and a beta of 1.33. The company has a 50-day simple moving average of $32.10 and a two-hundred day simple moving average of $40.33.

Biohaven (NYSE:BHVN - Get Free Report) last issued its quarterly earnings data 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). On average, equities research analysts predict that Biohaven Ltd. will post -8.9 earnings per share for the current year.

Insiders Place Their Bets

In other Biohaven news, Director John W. Childs acquired 32,700 shares of Biohaven stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $30.47 per share, with a total value of $996,369.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 16.00% of the company's stock.

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.