KLP Kapitalforvaltning AS Invests $601,000 in Biohaven Ltd. (NYSE:BHVN)

KLP Kapitalforvaltning AS purchased a new stake in Biohaven Ltd. (NYSE:BHVN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,100 shares of the company's stock, valued at approximately $601,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sei Investments Co. boosted its position in shares of Biohaven by 55.7% during the 4th quarter. Sei Investments Co. now owns 69,082 shares of the company's stock worth $2,580,000 after purchasing an additional 24,723 shares in the last quarter. American Century Companies Inc. raised its stake in Biohaven by 9.5% during the 4th quarter. American Century Companies Inc. now owns 558,761 shares of the company's stock worth $20,870,000 after buying an additional 48,286 shares during the period. Quantbot Technologies LP bought a new position in Biohaven in the fourth quarter worth approximately $355,000. DCF Advisers LLC grew its stake in Biohaven by 16.1% in the fourth quarter. DCF Advisers LLC now owns 36,000 shares of the company's stock valued at $1,345,000 after acquiring an additional 5,000 shares during the period. Finally, Magnetar Financial LLC increased its holdings in shares of Biohaven by 498.7% during the fourth quarter. Magnetar Financial LLC now owns 39,260 shares of the company's stock valued at $1,466,000 after acquiring an additional 32,702 shares in the last quarter. 88.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director John W. Childs bought 32,700 shares of the stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $30.47 per share, for a total transaction of $996,369.00. Following the completion of the purchase, the director now directly owns 2,320,571 shares in the company, valued at $70,707,798.37. This represents a 1.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 16.00% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts recently issued reports on BHVN shares. Cantor Fitzgerald reiterated an "overweight" rating on shares of Biohaven in a report on Tuesday, December 17th. HC Wainwright reaffirmed a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a research note on Tuesday, March 4th. Morgan Stanley reduced their price objective 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. JPMorgan Chase & Co. dropped their price target on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Finally, Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Biohaven and gave the stock a "buy" rating in a report on Thursday, March 20th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $62.77.

Biohaven Stock Down 3.9 %

Biohaven stock traded down $0.73 during mid-day trading on Monday, reaching $17.86. 2,203,986 shares of the company's stock were exchanged, compared to its average volume of 1,105,427. The business's fifty day simple moving average is $32.95 and its 200 day simple moving average is $40.66. Biohaven Ltd. has a one year low of $16.13 and a one year high of $55.70. The firm has a market capitalization of $1.82 billion, a PE ratio of -1.91 and a beta of 1.33.

Biohaven (NYSE:BHVN - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($1.85) EPS for the quarter, missing analysts' consensus estimates of ($1.56) by ($0.29). On average, sell-side analysts forecast that Biohaven Ltd. will post -8.9 earnings per share for the current 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.