Stifel Financial Corp Raises Stake in Biohaven Ltd. (NYSE:BHVN)

Stifel Financial Corp boosted its holdings in Biohaven Ltd. (NYSE:BHVN - Free Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,559,313 shares of the company's stock after acquiring an additional 50,052 shares during the quarter. Stifel Financial Corp owned 6.49% of Biohaven worth $244,990,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Biohaven by 144.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,979,169 shares of the company's stock valued at $73,922,000 after buying an additional 1,169,721 shares during the last quarter. Norges Bank bought a new stake in shares of Biohaven during the fourth quarter valued at approximately $33,711,000. Vanguard Group Inc. grew its position in shares of Biohaven by 8.1% in the 4th quarter. Vanguard Group Inc. now owns 8,414,120 shares of the company's stock worth $314,267,000 after buying an additional 628,211 shares during the period. Wellington Management Group LLP grew its holdings in Biohaven by 160.7% in the fourth quarter. Wellington Management Group LLP now owns 634,055 shares of the company's stock worth $23,682,000 after purchasing an additional 390,888 shares during the period. Finally, Emerald Advisers LLC bought a new position in Biohaven during the 4th quarter valued at approximately $13,466,000. 88.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BHVN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. HC Wainwright reissued a "buy" rating and issued a $54.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Morgan Stanley cut their price target on Biohaven from $69.00 to $63.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Biohaven and gave the company a "buy" rating in a research note on Thursday, March 20th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $61.00 price objective on shares of Biohaven in a report on Tuesday, March 4th. Fourteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Biohaven has an average rating of "Buy" and an average price target of $62.77.

Biohaven Trading Up 9.3 %

Shares of BHVN traded up $1.99 during trading hours on Thursday, reaching $23.41. 1,920,294 shares of the company traded hands, compared to its average volume of 1,112,668. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -2.50 and a beta of 1.33. The stock's fifty day moving average price is $26.83 and its 200 day moving average price is $37.83. Biohaven Ltd. has a 12-month low of $15.79 and a 12-month high of $55.70.

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

Insider Transactions at Biohaven

In related news, Director John W. Childs purchased 32,700 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $30.47 per share, for a total transaction of $996,369.00. Following the purchase, the director now owns 2,320,571 shares of the company's stock, valued at $70,707,798.37. This trade represents a 1.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 16.00% of the company's stock.

Biohaven 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.