Wellington Management Group LLP Increases Stake in Biohaven Ltd. (NYSE:BHVN)

Wellington Management Group LLP lifted its position in Biohaven Ltd. (NYSE:BHVN - Free Report) by 160.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 634,055 shares of the company's stock after buying an additional 390,888 shares during the period. Wellington Management Group LLP owned about 0.63% of Biohaven worth $23,682,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HighTower Advisors LLC lifted its stake in shares of Biohaven by 6.1% in the 4th quarter. HighTower Advisors LLC now owns 5,870 shares of the company's stock worth $219,000 after purchasing an additional 335 shares during the period. 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 worth $4,206,000 after acquiring an additional 412 shares during the last quarter. FSC Wealth Advisors LLC grew its holdings in Biohaven by 3.3% during the 4th 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 in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Biohaven by 9.4% in the 4th quarter. Prudential Financial Inc. now owns 5,980 shares of the company's stock valued at $223,000 after acquiring an additional 514 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in 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 during the period. 88.78% of the stock is owned by institutional investors.

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Biohaven Stock Performance

Shares of BHVN traded up $0.42 during trading hours on Friday, hitting $17.55. The stock had a trading volume of 1,576,488 shares, compared to its average volume of 1,124,143. The firm has a 50-day moving average price of $30.45 and a 200 day moving average price of $39.57. Biohaven Ltd. has a fifty-two week low of $15.79 and a fifty-two week high of $55.70. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -1.88 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) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.29). As a group, analysts predict that Biohaven Ltd. will post -8.9 EPS for the current fiscal year.

Insider Activity at Biohaven

In related news, Director John W. Childs bought 32,700 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average price 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 in the company, valued at $70,707,798.37. This represents a 1.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 16.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank of Canada restated an "outperform" rating and set a $61.00 target price on shares of Biohaven in a research report on Tuesday, March 4th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Biohaven in a research report on Tuesday, December 17th. Morgan Stanley cut their price target on shares of Biohaven from $69.00 to $63.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. JPMorgan Chase & Co. decreased their price objective on shares of Biohaven from $72.00 to $68.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Finally, HC Wainwright restated a "buy" rating and issued a $54.00 target price on shares of Biohaven in a research note on Tuesday, March 4th. Fourteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus 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.