Raymond James Financial Inc. acquired a new position in Biohaven Ltd. (NYSE:BHVN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,033 shares of the company's stock, valued at approximately $1,384,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of Biohaven by 0.5% during the third quarter. Franklin Resources Inc. now owns 79,705 shares of the company's stock valued at $4,206,000 after purchasing an additional 412 shares in the last quarter. FSC Wealth Advisors LLC lifted its position in Biohaven by 3.3% during the fourth quarter. FSC Wealth Advisors LLC now owns 15,500 shares of the company's stock valued at $579,000 after buying an additional 500 shares during the period. Amalgamated Bank boosted its holdings in shares of Biohaven by 21.9% during the 4th quarter. Amalgamated Bank now owns 2,929 shares of the company's stock valued at $109,000 after buying an additional 527 shares in the last quarter. Diversified Trust Co grew its position in shares of Biohaven by 16.6% in the 4th quarter. Diversified Trust Co now owns 5,585 shares of the company's stock worth $209,000 after buying an additional 795 shares during the period. Finally, US Bancorp DE increased its stake in shares of Biohaven by 36.7% in 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 hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on BHVN shares. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on shares of Biohaven and gave the stock a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. cut their price target on Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley lowered their price objective on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Cantor Fitzgerald reissued an "overweight" rating on shares of Biohaven in a research note on Tuesday, December 17th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $54.00 price target on shares of Biohaven in a research report on Tuesday, March 4th. Fourteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $62.77.
Read Our Latest Analysis on BHVN
Insider Activity at Biohaven
In other Biohaven news, Director John W. Childs acquired 32,700 shares of the company's stock in a transaction that occurred 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 acquisition, the director now 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 Securities & Exchange Commission, which is accessible through the SEC website. 16.00% of the stock is owned by company insiders.
Biohaven Stock Performance
Shares of BHVN stock traded down $0.73 during trading hours on Monday, reaching $17.86. The company had a trading volume of 2,203,986 shares, compared to its average volume of 1,105,427. The business has a fifty day moving average price of $32.95 and a 200-day moving average price of $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 cap of $1.82 billion, a PE ratio of -1.91 and a beta of 1.33.
Biohaven (NYSE:BHVN - Get Free Report) last posted 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). Equities research analysts forecast that Biohaven Ltd. will post -8.9 EPS for the current year.
Biohaven Company Profile
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Free Report)
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.
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