Rhumbline Advisers Boosts Holdings in Biohaven Ltd. (NYSE:BHVN)

Rhumbline Advisers lifted its holdings in shares of Biohaven Ltd. (NYSE:BHVN - Free Report) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 117,595 shares of the company's stock after acquiring an additional 14,407 shares during the period. Rhumbline Advisers owned approximately 0.12% of Biohaven worth $4,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Spire Wealth Management purchased a new stake in shares of Biohaven during the fourth quarter worth $56,000. US Bancorp DE boosted its position in shares of Biohaven by 57.1% in the third quarter. US Bancorp DE now owns 2,173 shares of the company's stock valued at $109,000 after acquiring an additional 790 shares during the period. KBC Group NV increased its holdings in Biohaven by 24.5% during the 3rd quarter. KBC Group NV now owns 2,250 shares of the company's stock worth $112,000 after acquiring an additional 443 shares during the period. Venturi Wealth Management LLC lifted its stake in Biohaven by 19.1% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,117 shares of the company's stock worth $156,000 after purchasing an additional 500 shares in the last quarter. Finally, Diversified Trust Co boosted its holdings in Biohaven by 16.6% in the 4th quarter. Diversified Trust Co now owns 5,585 shares of the company's stock valued at $209,000 after purchasing an additional 795 shares during the period. Hedge funds and other institutional investors own 88.78% of the company's stock.

Insider Buying and Selling at Biohaven

In related news, Director John W. Childs bought 29,000 shares of the firm's stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $35.94 per share, for a total transaction of $1,042,260.00. Following the purchase, the director now owns 2,368,741 shares in the company, valued at approximately $85,132,551.54. This represents a 1.24 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 16.00% of the company's stock.

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Biohaven Stock Performance

BHVN traded down $0.16 on Tuesday, hitting $31.90. 1,446,998 shares of the company were exchanged, compared to its average volume of 931,146. Biohaven Ltd. has a 12 month low of $26.80 and a 12 month high of $62.21. The firm has a fifty day simple moving average of $38.16 and a two-hundred day simple moving average of $42.71. The stock has a market capitalization of $3.23 billion, a PE ratio of -3.43 and a beta of 1.28.

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

Analysts Set New Price Targets

BHVN has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Biohaven in a report on Tuesday, February 11th. They issued a "buy" rating and a $65.00 price target on the stock. Cantor Fitzgerald restated an "overweight" rating on shares of Biohaven in a research note on Tuesday, December 17th. Royal Bank of Canada reiterated an "outperform" rating and set a $61.00 price target on shares of Biohaven in a research report on Tuesday. HC Wainwright reissued a "buy" rating and issued a $54.00 price target on shares of Biohaven in a report on Tuesday. Finally, TD Cowen lifted their price objective on shares of Biohaven from $55.00 to $75.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Fourteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $62.77.

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.